Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rapid Loans gives out loans with an APR of 5 6 8 % . If you borrow $ 6 0 0 for one week, how

Rapid Loans gives out loans with an APR of 568%. If you borrow $600 for one week, how much will you repay them?
Round your answer to the nearest cent, but do not include a "$" with your response.
Anthony purchused a $229 stereo system at Wrigley's Department Store. He paid $48 down and agreed to pay the balance in 12 equal monthly payments. The finance charge was 8.2% simple annual interest. What was the amount of each payment?
State your answer in terms of dollars rounded to the nearest cent (hundredth)
Amy has a monthly income of $3520 and incurs $860 in housing expenses each month. What percent of her monthly budget goes toward housing?
Round your answer to the nearest whole percent, but do not include a "%" sign in your response.

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

Step: 3

blur-text-image

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

Advanced Modelling In Mathematical Finance

Authors: Jan Kallsen, Antonis Papapantoleon

1st Edition

3319458736, 978-3319458731

More Books

Students also viewed these Finance questions

Question

1. Define mass and mediated communication

Answered: 1 week ago