Mathematics, 07.04.2021 22:40 jude3412
You take out a $1000 loan from Lenny the Loan Shark. Lenny charges $10 interest the first month, $15
interest the second month, $20 interest the third month and so on until you pay off the loan.
a) If you pay off the loan one month, what percent interest do you pay and what is the APR?
b) If you pay off the loan in three months, what percent interest do you pay and what is the APR?
Answers: 3
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You take out a $1000 loan from Lenny the Loan Shark. Lenny charges $10 interest the first month, $15...
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