rosalinda got a payday loan for 2000 due in 2 weeks and she paid a 150 fee. what is the apr on rosalindas loan

1 answer:

4 0

Kind of a trick question because if all she pays is $2,150 which is the $2,000 plus the $150 fee then technically an APR didn't apply. By hiding the APR in a fee they get unsuspecting customer's to sign up for these. From an APR perspective based on one Bi-weekly payment, it would take an APR of 555.5715% to generate a $150.00 in interest in 2 weeks.

You might be interested in

I will give Brainiest if you are right

ira [324]

The answer is H. 2x>12

8 0

3 years ago

Slope of (7,1) (12,4)

Kamila [148]

Answer:

the slope is 3/5

Step-by-step explanation:

We can find the slope from two points using the formula

m = (y2-y1)/(x2-x1)

= (4-1)/(12-7)

= 3/5

6 0

4 years ago

Graph the line with a slope of 2/5 that goes through (3,1)

Triss [41]

Answer:

$y = \dfrac{2x}{5} - \dfrac{1}{5}$

Step-by-step explanation:

Given:

$\bullet \ \ \text{Slope of line:}\ \dfrac{2}{5} \\\\ \bullet \ \text{Passes through:} \ (3, 1)$

To determine the equation of the line, we will use point slope form.

Formula of point slope form:

→ y - y₁ = m(x - x₁)

Where "x₁" and "y₁" are the coordinates of the point and "m" is the slope.

Substitute the coordinates and the slope:

$:\implies y - 1 = \dfrac{2}{5} (x - 3)$

Simplify the R.H.S:

$:\implies y - 1 = \dfrac{2x}{5} - \dfrac{6}{5}$

Add 1 both sides:

$:\implies y - 1 + 1 = \dfrac{2x}{5} - \dfrac{6}{5} + 1$

Simplify the equation:

$:\implies y = \dfrac{2x}{5} - \dfrac{6}{5} + \dfrac{5}{5}$

$:\implies \boxed{y = \dfrac{2x}{5} - \dfrac{1}{5}}$

Graphing the line on a coordinate plane:

In this case, we are already given a point (3, 1). We can simply plot the y-intercept $[\bold{\frac{-1}{5} }]$ on the coordinate plane. Then, we can draw a straight line through both points. It is suggested that you use a ruler to do so.