1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Leto [7]
2 years ago
13

If you were to take a typical payday loan for $150, with an interest rate of 24.5% due in full after two weeks, what is the tota

l amount you would have to repay?
Mathematics
1 answer:
iren2701 [21]2 years ago
8 0

Answer:

$186.75

Step-by-step explanation:

In order to solve this, we first need to convert the percentage into a decimal which can be done by dividing it by 100 like so

24.5 % 100 = 0.245

Now that we have the decimal form of the percentage we add a 1 to it and multiply that by $150 in order to get the total amount that is owed after two weeks .... without the 1 added it would only give us the amount of interest that needs to be paid.

$150 * 1.245 = $186.75

Therefore after two weeks you would need to pay a total of $186.75

You might be interested in
ASAP!<br> find the slope of a line that is perpendicular to y=-1/2x+4
aliya0001 [1]

We know that :

Ф  Product of the slopes of two lines perpendicular to each other should be equal to -1

Let the slope of the line perpendicular to given line be : M

Given equation of the line : y = -1/2x + 4

This line is in the form : y = mx + c, where m is the slope and c is the y intercept

Comparing with y = mx + c :

we can notice that slope of the given line is -1/2

⇒   M × -1/2 = -1

⇒   M × 1/2 = 1

⇒   M = 2

<u>Answer</u> : Slope of the line perpendicular to given line is 2

8 0
3 years ago
Write 19/41 in lowest forms
Verizon [17]

Answer:

19/41

Step-by-step explanation:

this fraction cannot be simplified since 19 is a prime number.

5 0
3 years ago
Can you plz help me I don't understand this
Lana71 [14]
Add up all the rainfall amounts and divide by 11
6 0
3 years ago
Read 2 more answers
Simplify <br> -12x48x-12x-48x-4
kozerog [31]
I m confused where is x and where is multiply sign
4 0
3 years ago
Which statement lists contractionary policies? Question 73 options: a) The Fed purchases bonds, lowers the discount rate, and lo
Ne4ueva [31]

Answer:

The correct answer is letter B.

Step-by-step explanation:

Contractionary monetary policies are instruments used by the FED to decrease the amount of money in an economy. There are three classic instruments of monetary policy: open market, rediscount policy and compulsory deposit. The open market is about buying and selling federal government bonds. Thus, by selling bonds, the bank will be increasing the supply of bonds in the economy, on the other hand, is withdrawing dollars, that is, will be withdrawing currency from the economy, resulting in a contractionary monetary policy. Rediscount refers to the interest rate on loans that the FED lends to financial institutions. In situations of illiquidity, banks turn to the FED for loans. In this case, the FED, by increasing the rediscount rate, hindering the supply of money to the institutions and thus exerting a contractionary monetary policy. Finally, bank reserves refer to the part of banks' monetary reserves that are required to be deposited with the FED. Thus, by increasing the percentage of such reserves, the FED is exerting a contractionary fiscal policy, as it decreases the total amount of commercial banks' borrowing resources.

7 0
3 years ago
Other questions:
  • The value for the missing side is: 25. 4 5. None of these choices are correct.
    8·1 answer
  • Almost Pinejuice (y) costs one quarter as much as pineapple juice (p) does. What equation represents this statement?
    7·2 answers
  • Please help me asap!
    10·1 answer
  • Someone please help me
    12·1 answer
  • 70% of days in june were sunny how many days were sunny
    6·1 answer
  • Find the equation for the parabola that has its vertex at the origin and has directrix at x=1/48
    9·1 answer
  • This afternoon, Sara noticed that the number of the page assigned for homework is divisible by both 12
    7·1 answer
  • What two numbers multiply to give 36 but add up to -13
    9·2 answers
  • Please help, 20 points
    10·1 answer
  • 4. Luke is also making pizzas. He started with 4 cups of pepperoni. He has used 2/3 of his pepperoni. How many cups of pepperoni
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!