The answer is 600,000,000
Answer:
8200/1000 = 8.2 so each time a class selss 8.2 bars, they receive 1 dollar.
If a class sold 16 bars, the class receives 2 dollars, if it sold 82 bars, it receives 10 dollars and so on.
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32,998
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-4,200 = 28,798 Total Loan Amount
Monthly Loan Payments = 225 for months = 13,500.00 for five years
This amount doesn't equal the principal so the problem could be worded incorrectly.
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Answer:
15.14%
Step-by-step explanation:
The formula for APR is stated thus:
APR=fees+interest/principal/n*365*100
principal is the loan amount of $700
fees is the processing fees on the loan which is $50
interest amount=principal*interest %=$700*8%=$56
n is the number of days of the loan which is a year i.e 365 days
APR=($50+$56)/$700/365*365*100
APR=$106/$700/365*365*100
APR=0.151428571
/365*365*100
APR=0.151428571
*100=15.14%
The annual percentage rate on the loan is 15.14% which represents the actual cost on the loan not just the interest cost of 8% annually
