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ratelena [41]
3 years ago
7

Mackenzie took out a payday loan for $1100 that charged a $95 fee. If the loan matures in 2 weeks, what is the approximate effec

tive interest rate of the loan?
Mathematics
2 answers:
Leona [35]3 years ago
5 0

Answer:

For apex , the answer is 764%

Step-by-step explanation:


Alexeev081 [22]3 years ago
4 0

We are asked to solve for the approximate effective interest rate of the loan and the given values are:
Payday load = $1100
Charge fee = $95

Solving for interest we have:
% interest = $95/$1100
% interest = 8.64 %

The answer to the problem is 8.64%.
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Step-by-step explanation:

A linear equation means the equation of straight line.

The formula for equation of straight line in slope intercept form is y=mx+c

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The formula for equation of straight line in double intercept form is x/a+y/b=1

The formula for equation of straight line in normal form is xcos α + y cos α=p

There are more formulas bur assuming you are asking for the general representation of the straight-line equation, it is y=mx+c.

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3 years ago
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Answer:

Step-by-step explanation:

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C * D = { (1,4), (1,5), (1,6), (2,4), (2,5), (2,6) }

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3 years ago
What is the value of x in 2(5x) = 14?
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Step-by-step explanation:

6 0
3 years ago
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I have no clue how to solve this.
expeople1 [14]

Answer: 36.6

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hope it helps

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