at28235
05.01.2020 •
Mathematics
Acar loan company states. "you only pay $.31 a day for each $500.00 borrowed." if you borrow $1,431 for 151 days, what amount will you repay. and what annual interest rate is the company actually charging" (assume a 360-day year)
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Ответ:
The amount you will repay can be solved by:
Amount to be repaid = ( $ 1, 431 borrowed) ( $ 0.31 per day / $ 500 borrowed) 151 days
Amount to be repaid = $ 133.97
The annual interest rate is:
1431 + 133.97 = 1431( 1 + i)^ 151(1/360)
Solve for i
i = 0.2378 or 23.78 % per year
Ответ:
yes si or ma,am
Step-by-step explanation: