What is the APR of a payday loan for $1100 due in 5 days that charges a $165 fee?
2 answers:
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Answer:
A. 5
Step-by-step explanation:
The marginal benefit of an article, is calculated as:
Where is the change in the total benefit of the article, and
is the change in the units of the article.
If we want to know the marginal benefit of watching the 3rd game, we need to use the information of total benefit of watching 2 games and 3 games.
In this case, the total benefit of watching 2 games is 120 and the total benefit of watching 3 games is 125, so and
are equal to:
Then, the marginal benefit of watching the third game is:
Answer:
Step-by-step explanation:
When converting mixed numbers (such as the one above), to improper fractions, we must first multiply the whole number by the denominator:
Then, add the numerator the the product:
Now, put the sum over the denominator to get your solution:
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To check your work, you can convert the improper fraction to a mixed number to make sure you will end up with .
Divide into
:
with a remainder of
Put the remainder over the denominator:
Therefore, our solution is correct!