Question

PLZ HELP ASAP!!!!! Show all work

Answer 1

Answer:

a) 198.7% interest

Not too sure about answer to (b)

b) 4.75% annualized  

Step-by-step explanation:

a) i used Interest = Principal x Rate x Time

   40 = 525 x $\frac{14}{365}$ x r

    40 = 20.13r

    r = 1.987 or 198.7%

b) i used this proportion:   $\frac{1.98}{1/24}$ = $\frac{x}{1}$      'x' represents annualized rate

                                                             1/24 represents 2 weeks out of a year

1/24x = 1.98

x = 4.75%