Bobby took out a single loan for $500 and paid a $50Bobby took out a single loan for $500 and paid a $50 fee. His loan is due in 1 week. Find the effective interest rate on the loan Bobby took out. Round the answer to one decimal place. Fee. His loan is due in 1 week. Find the effective interest rate on the loan Bobby took out. Round the answer to one decimal place.

10.0% is the effective interest rate on the loan of $500 taken for a week

Step-by-step explanation:

Effective interest on the single loan that Bobby took out is the actual interest paid,the fee compared to the amount of loan taken out,

Effective interest =fee/loan amount

fee paid is $50

the loan amount is $500

effective interest on loan =$50/$500=10.0%

The actual interest rate paid on the one week loan amount rounded to one decimal place is 10.0%

c

step-by-step explanation:

hi there!

first we need to find out how much they are adding to each number to make the next number.

ex: 4 + 4 = 8, 8 + 8 = 16, and so on.

so continuing with 32,

32 + 32 = 64

64 + 64 = 128

128 + 128 = 256

256 + 256 = 512

4, 8, 16, 32, 64, 128, 256, 512

the 8th term of the sequence will be 512

hope this ! ~