part B

Suppose you borrow $200 from a payday lender for one week at a weekly rate of 10%. You'll obviously owe $220 at the end of a week. If you are unable to repay the loan, however, the lender will say that you now owe not only $220 but also 10% of that $220 at the end of the second week. Under this scenario, it turns out that after weeks of not repaying anything you would owe 200 x 1.1" dollars Use this formula to determine how much you would owe after 10 weeks. (Round to the nearest cent.) $ 518.75 What total percent interest are you being charged on your 10-week loan? (Round to the nearest percent.)