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3 years ago

How is the interest rate on a payday loan calculated?

Mathematics

2 answers:

postnew [5]3 years ago

4 0

Answer:

b. total fees divided by loan amount

Step-by-step explanation:

The interest rate on a payday loan is usually calculated by dividing the total fees accrued in the loan repayment calculation by the exact loan amount.

Doing this will result in determining the interest rate used in a loan and it’s usually important to ensure accountability and also making sure the exact rate contained in the Loan application agreement Is the same as what is used later on.

snow_lady [41]3 years ago

3 0

Answer:

b. total fees divided by loan amount

Step-by-step explanation:

The interest rate on a payday loan is usually calculated by dividing the total fees accrued in the loan repayment calculation by the exact loan amount.

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Find the amplitude and period of y = 5 cos (4x)

dezoksy [38]

Answer: amplitude is 5 and Period is pi/2

Step-by-step explanation:

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2 years ago

The life of light bulbs is distributed normally. the standard deviation of the lifetime is 25 hours and the mean lifetime of a b

Dominik [7]

The probability is 0.8997.

We will use a z-score to answer this question. z-scores are given by the formula
$z=\frac{X-\mu}{\sigma}$

With our information, we have
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3 years ago

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nataly862011 [7]

Step-by-step explanation:

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3 years ago

The ratio between the square of a number and it's cube is 1:3 what is the number

Dimas [21]

Answer:

Step-by-step explanation:

Call that number “x”

The square of that number is x^2

Also as the cube is x^3

The ratio between these 2 values is 1:3, this means x^2 / x^3 = 1 / 3

<==> 1 / x = 1 / 3 (eliminate “x^2” for numerator and denominator of the fraction x^2 / x^3 )

<==> x = 1 * 3 / 1 = 3

So, that number is 3 ! This math problem seems simple ;)

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3 years ago

Ahmed bought a car for $5000 which is the 80% of the original price of the car. Calculate the original price of the car.

WITCHER [35]

Answer:

$6250

Step-by-step explanation:

5000 = 80%

5000/80=62.5

62.5*100=6250

8 0

3 years ago

Read 2 more answers