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Sarcosuchus Corporation offers very short - term loans to applicants with lo w credit ratings. They charge an interest rate of 0 . 0 3

Sarcosuchus Corporation offers very short-term loans to
applicants with lo w credit ratings. They charge an interest rate of
0.03333 percent per hour.
a. If you borrow $100 from Sarcosuchus, how much will you owe in
one week?
b. If you borrow $100 from Sarcosuchus, how much will you owe in
one month (30 days)?
c. What annual rate is Sarcosuchus charging? Hint: Convert the
simple hourly rate of 0.03333 percent into simple annual rate.This has been answered on Chegg previously but the answers
received very mixed feedback on their quality.

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