Answer:
r = 5
I just turned it in it was correct
Step-by-step explanation:
please mark brainliest
Answer: the first one
Step-by-step explanation:
The amount owed increases by $85 in two weeks.
<span>If the loan were "rolled over" at that point at the same interest rate, and this were done for a full year, the total amount owed would be </span>
<span>(1285/1200)^26 * $1200 </span>
<span>If we subtract the original principle, $1200, and calculate the rest (the compounding interest) as a percentage of that principle, we get </span>
<span>[(1285/1200)^26 * $1200 - $1200] / $1200 = 493%</span>