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Kay [80]
3 years ago
5

A loan of 900 will be repaid in 36 installments of 30.22what is the finance charge of the loan

Mathematics
1 answer:
Ivanshal [37]3 years ago
5 0
The cost of renting their money is $187.92 . The interest rate is about 14%.
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2 1/2r + 1 + 2r = 9 1/10
GalinKa [24]

This should help you here are the steps of your problem :)


2*(1/2)*r+2*r+1 = 9*(1/10) // - 9*(1/10)


2*(1/2)*r+2*r-(9*(1/10))+1 = 0


2*(1/2)*r+2*r-9/10+1 = 0


3*r+1/10 = 0 // - 1/10


3*r = -1/10 // : 3


r = -1/10/3


r = -1/30


r = -1/30


So your answer would be 1/30

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