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
blsea [12.9K]
2 years ago
6

A payday loan company charges a $35 fee for a $350 payday loan that will be repaid in 19 days. Treating the fee as interest paid

, what is the equivalent annual interest rate?
Mathematics
1 answer:
Naily [24]2 years ago
6 0

Answer:

  192.1%

Step-by-step explanation:

The formula for the amount of interest is ...

  i = Prt . . . . . where i is the interest amount, P is the principal, r is the annual rate, and t is the number of years. (Here, we have a fraction of a year.)

Solving for the rate, we have ...

  r = i/(Pt)

For "exact" interest, we use 365 days in the year. So, for a time of 19 days of 365, the interest rate is ...

  r = $35/($350·19/365) ≈ 1.921 = 192.1%

You might be interested in
What is the following simplified product? Assume x greater-than-or-equal-to 0
nlexa [21]

Answer:

  10x^4\sqrt{6}+x^3\sqrt{30x}-10x^4\sqrt{3}-x^3\sqrt{15x}

Step-by-step explanation:

Remove perfect squares from under the radicals.

  (\sqrt{10x^4}-x\sqrt{5x^2})(2\sqrt{15x^4}+\sqrt{3x^3})\\\\=(\sqrt{10x^4})(2\sqrt{15x^4}) +(\sqrt{10x^4})(\sqrt{3x^3}) -(x\sqrt{5x^2})(2\sqrt{15x^4}) -(x\sqrt{5x^2})(\sqrt{3x^3})\\\\=2\sqrt{150x^8}+\sqrt{30x^7}-2x\sqrt{75x^6}-x\sqrt{15x^5}\\\\=\boxed{10x^4\sqrt{6}+x^3\sqrt{30x}-10x^4\sqrt{3}-x^3\sqrt{15x}}

_____

The applicable rules of exponents are ...

  (x^a)(x^b) = x^(a+b)

  √(a^2) = a . . . . . . . for a > 0

  (√a)(√b) = √(ab)

5 0
3 years ago
Read 2 more answers
Two and one half times the sum of nine and twelve
ankoles [38]
2.5 x (9+12) = 52.5

Hope that helps!
8 0
3 years ago
Show all work to multiply (3+ /(-16))(6-/(-64))
Reil [10]

Answer:

=50

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
20 POINTS !! HELP FAST Cindy and Giovanni plan to make spaghetti sauce. Cindy needs 4 3/4 pounds of tomatoes for her recipe. Gio
Vikki [24]
If you add both 5.75 and 4.75, you'd get 10.5, so your answer is 10 and a half, so D.
7 0
3 years ago
Read 2 more answers
Divide using synthetic division. ( x^4-12x^2-9)/(x+3)
Firdavs [7]

Answer:

x^3 - 3x^2 - 3x + 9 + (-36/(x+3))

OR

x^3 - 3x^2 - 3x + 9 - (36/(x+3))

Step-by-step explanation:

First set the divisor equal to 0:

x + 3 = 0

Subtract 3 from both sides

x = -3

This is what you'll divide the dividend by in synthetic division.

Take the coefficents of each term in the dividend. Do not forget the 0 placeholders:

x^4 + 0x^3 - 12x^2 + 0x -9

Coefficents: 1. 0.  -12. 0 -9.

Please see the image for the next steps.

The remainder is -36. Put the remainder over the divisor and add it to the polynomial (shown in image)

-36/(x+3)

6 0
3 years ago
Other questions:
  • I need help to find out 1+1
    11·2 answers
  • Please solve this equation algebraically:<br> 9(b - 4) - 7b = 5(3b -2)<br> Thank you.
    10·2 answers
  • Draw a rectangle that has a perimeter of 20 units and an area of 25 square units
    10·1 answer
  • G(x) = x3 + 6x2 + 12x + 8<br><br><br><br> Determine the function’s value when x = −1.
    15·1 answer
  • "The inverse of every function must be a function itself." State whether you agree or disagree with the statement providing evid
    11·1 answer
  • Is 2/6 simplest form or not
    5·1 answer
  • What is the missing angle measure of 112 68 50
    9·2 answers
  • At a regional soccer​ tournament, tickets for two adults and seven students cost ​$42. Tickets for three adults and eleven stude
    6·1 answer
  • Help pls what is c/6=9
    12·2 answers
  • Colvert the decimal to percent: 0.272
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!