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Alja [10]
3 years ago
7

Select the correct answer.

Mathematics
1 answer:
swat323 years ago
7 0

Answer:

C

Step-by-step explanation:

325,000 x 0.8 = 260.400

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Suppose you pay back $575 on a $525 loan you had for 75 days. What was your simple annual interest rate? State your result to th
KengaRu [80]

The <em>simple annual interest</em> rate for the $ 525 loan is equal to 46.35 %.

<h3>What is the interest rate behind a pay back?</h3>

In this situation we assume that the loan does not accumulate interests continuously in time. Hence, the <em>interest</em> rate for paying the loan back 75 days later is:

575 = 525 · (1 + r/100)

50 = 525 · r /100

5000 = 525 · r

r = 9.524

The loan has an <em>interest</em> rate of 9.524 % for 75 days. <em>Simple annual interest</em> rate is determine by rule of three:

r' = 9.524 × 365/75

r' = 46.350

The <em>simple annual interest</em> rate for the $ 525 loan is equal to 46.35 %.

To learn more on interests: brainly.com/question/26457073

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<h2>Ellipse</h2><h3><u>I'm Really sure!</u></h3><h3><u>Brainliest please!</u></h3>
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