Rosalinda's annual percentage rate (APR) on the loan is <u>195%</u>.
<h3>What is the annual percentage rate?</h3>
The annual percentage rate represents the finance fee and interest paid for borrowing.
The annual percentage rate (APR) for a period of 1 year an be computed by the following simple interest formula:
(Interest + Fee ÷ Principal) ÷ Period
We can multiply the result above by 100 to express it as a percentage.
Assuming that the periodic interest rate is known, we multiply the number of periods in the year to compute the annual percentage rate.
Principal = $2,000
Fee on the loan = $150
Period of loan = 2 weeks
52 weeks = 1 year
Annual percentage rate = 195% ($150/$2,000 x 100 x 52/2)
<u>Check</u>:
APR in dollars = $150 ($2,000 x 195% x 2/52)
Thus, for borrowing $2,000 in two weeks and paying $150 as fee, Rosalinda's loan attracts 195% APR.
Learn more about the annual percentage rate at brainly.com/question/24715857
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Answer:
d. a Poisson probability distribution.
Explanation:
Based on the information provided within the question it can be said that the best description of the arrival pattern is provided by a Poisson probability distribution. This concept that tries to map out the probability that a given number of the same event occurred during a fixed interval of time. Which in this case would be the other arrivals during the set amount of time you are in the waiting line.
The honeymoon period for a newly elected president in America refers to the period early in the president's first term in office, when his popularity is high. The honeymoon period usually lasts between four and six months.
