1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
grin007 [14]
3 years ago
8

Sidney took out a payday loan of $1200 that charged an $85 fee. If the loan matures in 2 weeks, what is the appropriate effectiv

e interest rate of the loan?
Mathematics
1 answer:
borishaifa [10]3 years ago
3 0
The amount owed increases by $85 in two weeks. 

<span>If the loan were "rolled over" at that point at the same interest rate, and this were done for a full year, the total amount owed would be </span>
<span>(1285/1200)^26 * $1200 </span>

<span>If we subtract the original principle, $1200, and calculate the rest (the compounding interest) as a percentage of that principle, we get </span>

<span>[(1285/1200)^26 * $1200 - $1200] / $1200 = 493%</span>
You might be interested in
What is the weight of a 90kg man standing on Earth, where gearth = 9.82 m/s2?
Ksenya-84 [330]
B 9.2 N man standing in earth where hearth
5 0
3 years ago
Find the equation of a line parallel to y=x-20 that passes through (1,4)
inessss [21]

Hey!

So the first thing we can notice is that we are given the equation of the line parallel to the one we need to find. Two parallel lines always have the same slope. We can tell by looking at the equation that the slope of the line that we have been given is 1 and since the lines are parallel the slope of the line we need to find is also 1.

Knowing this and a point that the line passes through, we can find the y-intercept or b:

y = mx + b

4 = 1(1) + b

4 = 1 + b

3 = b

Since we know that the y-intercept is 3, we can plug this back into the slope intercept form equation along with the slope to get our equation:

y = x + 3

8 0
4 years ago
During a 5% off sale Diego pays $74.10 for a new hockey stick what was the original price
zalisa [80]

Answer:

3.705

Step-by-step explanation:

do 5% of 74.10

tell me if you get it right!!! :)

7 0
3 years ago
There are 36 people at work. 3/8 are working, 1/3 are slouching, and the rest aren't even at work. What is the fraction of the p
stepan [7]
35 7/24 are not at work

7 0
3 years ago
Read 2 more answers
Which of the following is a solution to the equation c+(4-3c)-2=0
Eduardwww [97]

Answer:

c=1

Step-by-step explanation:

3 0
3 years ago
Other questions:
  • Which axiom would justify the following conclusion? If x + 4 = 12, then x = 8.
    14·1 answer
  • If mario was 32 year old 8 years ago, How old was he X year ago ?
    12·1 answer
  • 2,251 - 1,907.17 = ?<br> 2,273 - 1,920.47 = ?<br> 2,281 - 1,945.07 = ?
    11·1 answer
  • The population of Mexico has been increasing at an annual rate of 1.7%. If the population was 100,350,000 in the year 2000, pred
    13·2 answers
  • Suppose that 25% of all males in a population are carriers of a certain infectious disease \\( (p_1= 0.25) \\) and that 28% of a
    5·1 answer
  • What is the next fraction in this sequence? Simplify your answer.<br> 6/7, 29/35, 4/5, 27/35......?
    12·1 answer
  • What is 7/8 simplided??
    12·1 answer
  • Each day a bobcat drinks about 7 times as much water as a mink drinks.
    8·1 answer
  • Please help asap for brainleist​
    5·1 answer
  • On monday,Jayden built a 22.4 inch tall snowman. By Tuesday, it had melted down to 18.6 inches tall? How many inches did the sno
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!