Mathematics, 16.12.2020 23:30 babygirl2984
Which will have a higher effective interest rate - a payday loan for $1500 that
is due in 12 days with a fee of $90, or a payday loan for $1500 that is due in
10 days with a fee of $90?
A. A payday loan for $1500 that is due in 12 days with a fee of $90,
since it has the shorter period
B. A payday loan for $1500 that is due in 10 days with a fee of $90,
since it has the shorter period
C. A payday loan for $1500 that is due in 10 days with a fee of $90.
since it has the longer period
D. A payday loan for $1500 that is due in 12 days with a fee of $90,
since it has the longer period
Answers: 1
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Which will have a higher effective interest rate - a payday loan for $1500 that
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