We made a down payment of $80 and borrowed the balance on a new cello which cost $500. The balance with interest was paid in 23 monthly payments of $19 each and a final payment of $4. The amount of interest paid was what percent of the amount borrowed?	Answers:
A) 3.5% B) 4% C) 4.5% D) 5% E) 5.5%
We borrowed $420.   To pay back this loan, we paid 23*$19 + $4=$441.   The interest was $441-$42023* 19 +  4= 
<gadget id="calculator">23* 19 +  4</gadget>
<output>441</output>
$441.   The interest was $441-$420=$21.   The percentage was $21/$420441- 420= 
<gadget id="calculator">441- 420</gadget>
<output>21</output>
$21.   The percentage was $21/$420=0.05  21/ 420= 
<gadget id="calculator">  21/ 420</gadget>
<output>1/20 = around 0.05</output>
0.05=5%.   The answer is 5%.
<result>D</result>
We made a down payment of $80 and borrowed the balance on a new cello which cost $500. The balance with interest was paid in 23 monthly payments of $19 each and a final payment of $4. The amount of interest paid was what percent of the amount borrowed?