Suppose you need some fast cash until payday which is two weeks away. You decide to take out a payday loan for $400 with a fee o
1 answer:
The APR on the loan will be $13. The APR is found by the standard formula. It is calculated annually.
<h3>What is APR? </h3>APR is an annualized cost indication for a loan that includes all costs.
Suppose there is an initial amount as P. The interest, or say charge on it, is applied annually as 'C' amount.
The given data in the problem is;
Loan payment = $400
Fees = $52
APR=?
The value of the APR is found as;
Hence, the APR on the loan will be $13.
To learn more about the APR, refer to the link;
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Answer:
10.36
Step-by-step explanation:
So your solution would be:
Just try to remember PEMDAS.
Parenthesis, Exponent, Multiplication/Division, Addition/Subtraction.
This is the order we follow when going about expressions with many operations.
Let's start with the parenthesis part. Notice that there is an exponent beside the parenthesis enclosing the fraction. Here we use the quotient to a power rule. We distribute the exponent to the numerator and the denominator.
Now that we got the parenthesis and exponent out of the way, let's move on to the next. Multiplication/Division. Whichever comes first, you do it first.
We have a fraction so we do that first. Then we do the multiplication after.
Next we do the addition/subtraction. Again, whichever comes first.
Answer:
y =
Step-by-step explanation:
Let the equation of the line is,
y = mx + b
Here m = slope of the line
b = y-intercept
Slope of a line passing through two points and
is,
m =
From the graph attached,
Since, the given line passes through (0, -1) and (3, 4),
Slope 'm' =
m =
y - intercept 'b' = -1
Therefore, equation of the line will be,
y =