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zhannawk [14.2K]
3 years ago
5

a payday loan store charges $40 for one month loan of $300. what annual interest rate is This equivalent to

Mathematics
1 answer:
madreJ [45]3 years ago
3 0
Annual would be $480!
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Ernest borrowed $1000 from the bank. The interest rate is 30% and he borrowed it for 9 months. How much will he owe the bank?
Fudgin [204]

The total amount Ernest owes the bank after 9 months is $1,225.00

How many months of interest would be paid?

The fact the loan was taken for nine months means that the borrower, Ernest needs to pay interest for nine months, in other words, we would time-apportion the annual interest of 30% to determine the 9-month interest as shown below:

9-month interest rate=30%*9/12

9-month interest rate=22.50%

The amount Ernest is owing the bank is the principal borrowed plus the interest for  9 months as computed below:

total amount owed after 9 months=$1000*(1+22.50%)

total amount owed after 9 months=$1000*1.2250

total amount owed after 9 months=$1,225.00

Find out more about borrowing on:brainly.com/question/28188613

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5 0
2 years ago
Martin deposited $9,318 in a savings account earning 2% interest, compounded annually.
Lisa [10]

Answer:

$10,249.80

Step-by-step explanation:

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4 0
2 years ago
Mrs. Nestler enjoys listening to classical music. She has the following audio CDs by her favorite composers in her collection: 4
ivolga24 [154]

Answer:

10.55% probability

Step-by-step explanation:

A probability is the number of desired outcomes divided by the number of total outcomes.

The order in which the CDs are chosen is not important. So we use the combinations formula to solve this question.

1 Bach CD, from a set of 4.

1 Beethoven CD, from a set of 6.

1 Brahms CD, from a set of 3.

1 Handel CD, from a set of 2.

So, D=144

4 CDs from a set of 4+6+3+2 = 15.

So, T= 1365

p= D/T= 144/1365 = 0.1055

10.55% probability that she will choose one by each composer

4 0
3 years ago
What is the value of the expression 8 cubed?
Ierofanga [76]

Answer:

512

Step-by-step explanation:

8*8*8

64*8

512

5 0
2 years ago
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Find the measure of the missing angles.<br> 490<br> y<br> X
ycow [4]
Do you have a picture to go with that? I can’t solve it without any info.
3 0
2 years ago
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