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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%

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A photo of a beetle in a science book is increased to 535​% as large as the actual size. If the beetle is 14 ​millimeters, what
AnnZ [28]

Answer: 74.9 millimeters

Step-by-step explanation:

From the question, a photo of a beetle in a science book was.increased to 535​% as large as its actual size and the beetle.has a actual size of 14 ​millimeters,

The size of the beetle on the photo will be 535% of 14 millimeters. This will be:

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3 years ago
What is Discount Comics is running a special: 20 comics for $5.00. Seth purchases 30 comics for $7.50. What is the sale price pe
Shalnov [3]
Since we are finding the unit rate of the cost per comic, we will need to divide $5 by 20 comics which you will get 0.25 cents and divide $7.50 by 30 comics which you will also get 0.25 cents.Therefore, the unit rate and constant of proportionality is 0.25 cents.
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How to Increase 8 by 9.4%
Fed [463]

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75.2

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4 0
3 years ago
I REALLY NEED HELP im struggling please show how to do it show WORK please. no links
Oksana_A [137]

Answer:

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6 0
2 years ago
Blake and two friends equally shared the cups of water shown in the picture.
3241004551 [841]
The answer would be c- 2/6

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there are two ways you can solve this…

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