Mathematics, 19.10.2019 02:10 wolfgirl10000
The check-cashing store also makes one-month add-on interest loans at 7.8 percent discount interest per week. thus if you borrow $200 for one month (four weeks), the interest will be ($200 × 1.0784) – $200 = $70.09. because this is discount interest, your net loan proceeds today will be $129.91. you must then repay the store $200 at the end of the month. to you out, though, the store lets you pay off this $200 in installments of $50 per week. what is the apr of this loan? what is the ear?
Answers: 2
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The check-cashing store also makes one-month add-on interest loans at 7.8 percent discount interest...
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