Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A radio commercial for a loan company (Assume a 360-day you) You only pay 32 a day for each $500 borrowed.you borrow $2.562 for 295

image text in transcribed
A radio commercial for a loan company (Assume a 360-day you) "You only pay 32 a day for each $500 borrowed."you borrow $2.562 for 295 days, what amount will you repay, and what interest rate is the company actually charging? a. Amount you repey Round to two decimale ) b. Annual interest rate (Round to four decimal places) A radio commercial for a loan company (Assume a 360-day you) "You only pay 32 a day for each $500 borrowed."you borrow $2.562 for 295 days, what amount will you repay, and what interest rate is the company actually charging? a. Amount you repey Round to two decimale ) b. Annual interest rate (Round to four decimal places)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Full IFRS And IFRS For SMEs Adoption By Private Firms Empirical Evidence On Country Level

Authors: Maximilian Saucke

1st Edition

363166298X,3653055318

More Books

Students also viewed these Finance questions