1. belinda needs $2400 fast. she has the option of borrowing the $2400 for 5 days at an apr of 500% or borrowingthe $2400 for 5 days with a fee of $180. she realizes that neither scenario is very good, but she wants to choose theoption that is best for her. belinda decide which is the "better" deal. (5 points: part 1 - 1 point; part 11 - 1 point, part iii - 1 point; part iv-1 point; part v- 1 point)part i: what is the length of the period of the $2400 loan for 5 days for a fee of $180? part ii: what is the number of periods for 1 year? part iii: what is the periodic interest rate of the $2400 loan for 5 days for a fee of $180? part iv: what is the apr of the $2400 loan for 5 days for a fee of $180?