A radio commercial for a loan company states: “You only pay $0.29 a day for

2 answers:

7 0

A loan of $1500 attracts a daily interest of 3(0.29) = $0.87
For 120 days you pay $0.87 x 120 = $104.40 interest.

I = PrT; where P is the principal, r is the annual interest rate and T is the time.
500 x r x 1/365 = 0.29
r = 0.29 x 365 / 500 = 105.85/500 = 0.2117

Therefore,, Annual interest rate = 21.17%

lianna [129]2 years ago

4 0

The amount that they charge for $ 1500 would be :

$0.29 x 3 = $ 0.87

Total charge for 120 days would be :
$0.87 x $ 120 = $ 104.4

The amount that should be repaid : 1500 + 104.4 = 1604.4

Interest rate =
a = p(1+rt)
1604.4 = 1500 ( 1 + r*120/365)

r = 21.17 %

Hope this helps

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Option D

Step-by-step explanation:

We are given the following equations -

$\begin{bmatrix}-5x-12y-43z=-136\\ -4x-14y-52z=-146\\ 21x+72y+267z=756\end{bmatrix}$

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$\begin{bmatrix}-5&-12&-43&-136\\ -4&-14&-52&-146\\ 21&72&267&756\end{bmatrix}$ First, I swapped the first and third rows.

$\begin{bmatrix}21&72&267&756\\ -4&-14&-52&-146\\ -5&-12&-43&-136\end{bmatrix}$ Leading coefficient of row 2 canceled.

$\begin{bmatrix}21&72&267&756\\ 0&-\frac{2}{7}&-\frac{8}{7}&-2\\ -5&-12&-43&-136\end{bmatrix}$ The start value of row 3 was canceled.

$\begin{bmatrix}21&72&267&756\\ 0&-\frac{2}{7}&-\frac{8}{7}&-2\\ 0&\frac{36}{7}&\frac{144}{7}&44\end{bmatrix}$ Matrix rows 2 and 3 were swapped.

$\begin{bmatrix}21&72&267&756\\ 0&\frac{36}{7}&\frac{144}{7}&44\\ 0&-\frac{2}{7}&-\frac{8}{7}&-2\end{bmatrix}$ Leading coefficient in row 3 was canceled.