Answer:
Step-by-step explanation:
Part IV
There are 365/5 = 53 five day periods in a year
She would pay $180(53) = $9,540 to borrow the money for a full year
APR = 100(9540 / 2400) = 397.5%
Part V
The $180 fee seems to be a better deal
At 500% interest a year would cost 2400(5) = $12000
5 days would cost 12000/53 = $226.42
