gabriellax3889 gabriellax3889

20-12-2017
Mathematics

contestada

What is the APR of a payday loan for $1100 due in 5 days that charges a $165 fee?

A. 1095%

B. 109.5%

C. 10.95%

D. 10,950%

Respuesta :

MegatronSmoove MegatronSmoove

27-12-2017

$165 divided by 1,100= .15
Times that by 365 for each day of the year
Which will equal 54.75 divided that by 5 for the amount of days that the loan was for which equals 10.95, then times that by 100 which equals 1,095

Answer Link

angie4842 angie4842

22-06-2019

Answer:

the right APEX answer is 1095%

Answer Link

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