Answer:
The APR at which the money is borrowed, is approximately 651.79%
Step-by-step explanation:
The amount which one wishes to borrow for two weeks, P = $600
The amount of interest that one must pay back = $25 per $100 borrowed
Therefore;
The total interest on the $600 loan (borrowed) for two weeks = 25/100× $600 = $150
The number of days for which the amount was borrowed = 2 weeks = 14 days
The Annual Percentage Rate, APR is given as follows;
Therefore, we get
The annual rate at which the money is borrowed, APR ≈ 651.79%.
A mixed number is a combination of a whole number and a fraction, so in this case we have 8 as the whole part and 0.45 as the fraction, 0.45 is equal to 45/100, and that fraction can be simplified as well, lets see:
8.45 = 8 45/100
= 8 9/20
I know you don't wanna do the work or don't know how but just get the m a t h w a y a-p-p and type the equations in and it'll tell you what x is
77.2%
To find the probably and at least on you must find the probability of none and subtract from one.
The probability of none can be found like so:
(5+6 over 5+6+7)^3 = .228
1 - .228 = .772
Hope this helps!
