Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your roommate let you borrow $104 to buy the PS5 6 months ago. You just paid him back today and gave him $24 extra for

Your roommate let you borrow $104 to buy the PS5 6 months ago. You just paid him back today and gave him $24 extra for interest. What is the annual percentage rate (APR)? Convert to a percent, round to 2 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

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

Corporate Finance Leasing

Authors: Brian Coyle

1st Edition

0852974620, 9780852974629

More Books

Students also viewed these Finance questions