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2 years ago

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Which will have a higher effective interest rate a payday loan for $2300 do in 15 days of the fee of $120 or a payday or loan fo

r $2,300 due in 13 days with the fee of $120

1 answer:

Elan Coil [88]2 years ago

8 0

Answer:

A payday loan for $2300 due in 13 days with a fee of $120, because it has a shorter period

Step-by-step explanation:

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olasank [31]

Answer:

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Step-by-step explanation:

Let:

T - shirts

S - shorts

We can make two equations out of this problem:

4T + 3S = $79

7T + 8S = $185

Through substitution we can solve for one of the unknowns. We make one equation to solve for an unknown

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We use the formula of S and insert it into the other equation:

$7T+8(\dfrac{\$79-4T}{3}) = \$185\\\\7T + \dfrac{\$632-32T}{3}=\$185\\\\\dfrac{\$632-32T}{3}=\$185-7T\\\\\$632-32T=3(\$185-7T)\\\\$632-32T=\$555 - 21T\\\\-32T+21T=\$555-\$632\\\\-11T=-\$77\\\\\dfrac{-11T}{11}=\dfrac{-\$77}{11}\\\\T = \$7$

Thus T-shirts are $7 each.

Now that we know T, we can use it to solve for the other unknown. You can use it on any of the formulas.

$4T+3S=\$79\\\\4(\$7) + 3S = \$79\\\\\$28+3S =\$79\\\\3S=\$79-\$28\\\\3S=\$51\\\\S=\dfrac{\$51}{3}\\\\S = \$17$

We know then that Shorts are $17 each.

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Answer:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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