A radio commercial for a loan company states: You only pay 29 a day for each $500

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A radio commercial for a loan company states: “You only pay 29¢ a day for each $500 borrowed.” If you borrow $1,500 for 120 days, what amount will you repay, and what annual interest rate is the company charging?

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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Question Posted: Mar 22, 2022 01:00 AM

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A radio commercial for a loan company states: You only pay 29 a day for each $500

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Answers Total repayment amount 435 Annual interest rate 875 Explanations The loan company ...View the full answer

College Mathematics For Business Economics, Life Sciences, And Social Sciences

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