ashleybland23 ashleybland23

09-06-2020
Mathematics

contestada

A payday loan store charges $40 for a one month loan of $600. What’s the annual interest rate equivalent to?

Respuesta :

Chimerezeeluchie Chimerezeeluchie

09-06-2020

Answer:

80%

Step-by-step explanation:

rate=100×Interest/ principal × time

Interest= 40

principal= 600

time= 1 month=1/12

100%×$40×12/$600×1=80%

Answer Link

Otras preguntas

every 10 seconds a pendulum completes 2 cycles. what are the period and frequency of this pendulum

Write a sentence comparing an executive order to a law.

Why were the British concerned about French activity in the Ohio River valley?

Please help! -4(m + 6) = -8

Find 1722 divided by 6 then estimate to check if your answer is reasonable

My mom buy 40 tickets for $ 359 in total, what is the price of 1 ticket

why was George Washington the father of our country

A 1904 kg car has a speed of 12 m/s when it hits a tree. The tree doesn’t move and the car comes to rest. Find the change in kinetic energy of the car. Answer i

A rectangular billboard is 7 2/3 long and 4 yards wide what is the area of the billboard

What is the advantage of buying a magnetic bulletin board