ashleybland23 ashleybland23

09-06-2020
Mathematics

contestada

A payday loan store charges $40 for a one month loan of $600. What’s the annual interest rate equivalent to?

Respuesta :

Chimerezeeluchie Chimerezeeluchie

09-06-2020

Answer:

80%

Step-by-step explanation:

rate=100×Interest/ principal × time

Interest= 40

principal= 600

time= 1 month=1/12

100%×$40×12/$600×1=80%

Answer Link

Otras preguntas

Can someone please help me and explain why you chose that answer?

what are the foci of the ellipse given by the equation 100x^2+25y^2=2500

James bought a plant that was 3 inches tall. Each week the plant grew 2 inches. Define the rate of change in this situation.

out of seven grey and two white and one black marbles what are the odds in choosing a grey marble?

Ellen began forgetting where she put her purse, how to balance a checkbook, and where she left the car in the parking lot. she is experiencing the signs and sym

According to everett rogers, the goal of the diffusion researcher and the marketer are to shorten the time lag between: question 8 options: the time that a prod

What is the function of air holes in the soil? What is the major difference between MANURE AND HUMUS. MENTION 3 POINTS FOR EACH.... ASAP!!! Sometimes u people w

What problems did Dawson have as a result of rapid population growth?

Which expression is equivlent to 3n + 2(1-4n) a 2-n b 2-5n c 2+11n d 2-11n Samuel chose a how did he get that answer.

how are important properties of mercury venus and mars different from important properties of earth?