Mathematics, 20.02.2020 19:19 azariah7

18. A payday loan is made for six weeks, where the amount of interest owed per $100 borrowed is $20. If you borrow $500 for six weeks, answer the following questions.
a. How much do you owe at the end of six weeks?

b. What is the APR for this transaction?

Answers: 3

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18. A payday loan is made for six weeks, where the amount of interest owed per $100 borrowed is $20....

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18. A payday loan is made for six weeks, where the amount of interest owed per $100 borrowed is $20. If you borrow $500 for six weeks, answer the following questions.a. How much do you owe at the end of six weeks?b. What is the APR for this transaction?

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Another question on Mathematics

18. A payday loan is made for six weeks, where the amount of interest owed per $100 borrowed is $20. If you borrow $500 for six weeks, answer the following questions.
a. How much do you owe at the end of six weeks?

b. What is the APR for this transaction?