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]
3 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]3 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
If anyone could solve this question for me while showing the steps. It would be GREATLY appreciated
Blizzard [7]

this is a very annoying problem, with lots of steps. it is on a next level of dragging on and on

Step-by-step explanation:

You can split this into different shapes. A triangle, a rectangle, and a void of a quarter circle. The total area is rectangle+triangle-quarter circle.

We find the second side of the triangle by doing 65-48=17

We then use the pythagorean theorem to find the third length. This is about 49.1426.

We can then use whatever method you'd like for finding the area of the triangle. it turns out to be about 417.7125

Next, we find the rectangle, easy enough, 49.1426*48=2358.8448

which seems a bit scuffed until you realize that the diagram itself is scuffed as well. Great, quarter circle next

16*16*pi/4=201.0619

Alright, now to combine it to find the area.

417.7125+2358.8448-201.0619=2575.4954

great, now let's find the perimeter, simple enough. Curved perimeter+straight perimeter-that one corner in the bottom right

52+48+49.1426+65-32+25.1327=207.2753

and now we convert to meters

207.2753feet=63.1775meters

We are almost done! Now let's find the cost.

Fencing first:

63.1775*8.50=537.01

Then the cement

2575.4954*5.50=14165.2247

Then we add it up and apply tax:

537.01+14165.2247=14702.2347

14702.23*1.13=$<u><em>16613.53</em></u>

if you find anything wrong message me, I may have made errors because its 10pm and i need sleep. I recommend you work through my steps on your own as well. There might be complications with rounding as well, so yea. Hope this helps!

3 0
2 years ago
Solve the differential. This was in the 2016 VCE Specialist Maths Paper 1 and i'm a bit stuck
Nimfa-mama [501]
\sqrt{2 - x^{2}} \cdot \frac{dy}{dx} = \frac{1}{2 - y}
\frac{dy}{dx} = \frac{1}{(2 - y)\sqrt{2 - x^{2}}}

Now, isolate the variables, so you can integrate.
(2 - y)dy = \frac{dx}{\sqrt{2 - x^{2}}}
\int (2 - y)\,dy = \int\frac{dx}{\sqrt{2 - x^{2}}}
2y - \frac{y^{2}}{2} = sin^{-1}\frac{x}{\sqrt{2}} + \frac{1}{2}C


4y - y^{2} = 2sin^{-1}\frac{x}{\sqrt{2}} + C
y^{2} - 4y = -2sin^{-1}\frac{x}{\sqrt{2}} - C
(y - 2)^{2} - 4 = -2sin^{-1}\frac{x}{\sqrt{2}} - C
(y - 2)^{2} = 4 - 2sin^{-1}\frac{x}{\sqrt{2}} - C


y - 2 = \pm\sqrt{4 - 2sin^{-1}\frac{x}{\sqrt{2}} - C}
y = 2 \pm\sqrt{4 - 2sin^{-1}\frac{x}{\sqrt{2}} - C}

At x = 1, y = 0.
0 = 2 \pm\sqrt{4 - 2sin^{-1}\frac{1}{\sqrt{2}} - C}
-2 = \pm\sqrt{4 - 2sin^{-1}\frac{1}{\sqrt{2}} - C}

4 - 2sin^{-1}\frac{1}{\sqrt{2}} - C > 0
\therefore 2 = \sqrt{4 - 2sin^{-1}\frac{1}{\sqrt{2}} - C}


4 = 4 - 2sin^{-1}\frac{1}{\sqrt{2}} - C
0 = -2sin^{-1}\frac{1}{\sqrt{2}} - C
C = -2sin^{-1}\frac{1}{\sqrt{2}} = -2\frac{\pi}{4}
C = -\frac{\pi}{2}

\therefore y = 2 - \sqrt{4 + \frac{\pi}{2} - 2sin^{-1}\frac{x}{\sqrt{2}}}
6 0
3 years ago
How to solve this I am not the best at math
Brrunno [24]
Try  it is a great site that you can plug problems in to for the answers! I hope this is helpful!!
5 0
4 years ago
Isaac has had the same 2 credit cards for 10 years. He has a total credit limit of $12,000. He never makes late payments, and hi
Greeley [361]
D. He will have a low credit score.
7 0
3 years ago
4x-5=4x+10 solve for x
Sav [38]
Remember you can do anything to an equation as long as you do it to both sides
4x-5=4x+10
minus 4x both sides
-5=10
false
no solution
6 0
3 years ago
Other questions:
  • At the city museum, child admission is
    12·2 answers
  • Rounded to hundred how can I round to hundred
    6·1 answer
  • the fruit market buys orange in boxes of 48 and apples in boxesof 36 they sold 1/3 of box orange and 1/9 of a box of appled how
    5·2 answers
  • Given that
    11·1 answer
  • Jamal earned $40 from his weekend job. He spent 1/4 of it on a Xbox game and 1/5 of it on a movie ticket. How much money does he
    9·2 answers
  • Decrypt the word DKA if it was encrypted using an alphabetic Caesar shift cipher that starts with shift 5 (mapping A to F), and
    15·1 answer
  • Solve for t.<br> 3(t – 13) = 18
    9·2 answers
  • Help me don’t respond if you aren’t 100% sure please please
    6·1 answer
  • Solve the volume of the box! Help ASAP also you get extra points &lt;3.
    14·1 answer
  • Plz help I have tried but got wrong
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!