Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If you paid $41 to a loan company for the use of $1,243 for 81 days, what annual rate of interest did they charge? (Assume
If you paid
$41
to a loan company for the use of
$1,243
for
81
days, what annual rate of interest did they charge? (Assume a 360-day year.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started