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NARA [144]
3 years ago
14

A person borrows $370 from a payday loan company, paying $26 interest for two weeks. This would result in an annual interest rat

e of approximately ___ percent. Ignore interest rate compounding.
Business
1 answer:
xeze [42]3 years ago
8 0

Answer:

Rate= 168.65%

Explanation:

When loans are collected there is interest that is paid on the principal collected. The interest is usually expressed as a percentage per year.

The following formula is used to calculate interest rate

Interest = principal* rate* time

We are asked to calculate annual percentage

Rate = interest/(principal * time)

Interest bis paid every two weeks. That is twice a month, and there are 12 months in a years. That is 2*12= 24 times.

Total interest per year= 24* 26= $624

Using the formula

Rate= 624/(370*1)

Rate = 1.6865

Rate= 168.65%

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Answer:

19 milion 86+15=91 19000091

5 0
2 years ago
Ralph Watkins owns a large home on a two-acre lot in Tempe, Arizona. Watkins has much of the lot covered with tiff grass and is
kakasveta [241]

Answer:

(C) Brown could seek an injunction against Watkins, on the basis of nuisance

Explanation:

The bugs and pests from Watkins grass clipping pile are a menace to his neighbour Brown.

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Watkins should comply

5 0
3 years ago
Before entering a passing lane, be sure to check for good _____________________ to ensure that you will not lose control of your
zhannawk [14.2K]
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7 0
3 years ago
Read 2 more answers
Michael Chang buys only tennis rackets during a particular year. During the year in question, the price of all goods rises by 10
Zolol [24]

Answer:

Michael does not experience inflation because he only buys Tennis rackets

Explanation:

Inflation is defined as increases in price per unit price.

It is the prolonged increase in the price of goods and services caused by devaluation of currency , demand -pull or cost - push. While a certain degree of inflation can be beneficial to a thriving economy , it can become a threat if it becomes larger.

One of the direct impact of inflation is rise in price of goods and services.

As the price of rackets was not affected by the inflation , that means that Michael was not affected by the inflation.

6 0
3 years ago
The economic activities that typically produce an intangible product are referred to as A. phantoms. B. goods. C. products. D. s
slava [35]

Answer:

D. services.

Explanation:

Examples of services are financial service, delivery services.

The economic activities that typically produce an tangible product are referred to as goods.

I hope my answer helps you

3 0
3 years ago
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