Explanation Given: Cash Net USA charges $ 25 , for each $ 100 loaned for a term of 14 days. Calculation: The Simple Interest formula is, I = Pr t Where, I is the interest paid, P is the principal, r is the APR expressed as a decimal and t is the term of loan in the years. Solve this equation for r , r = I P t Convert the term t into years, t = 14 365 = 0

Excursions in Modern Mathematics (9th Edition)

9th Edition

ISBN: 9780134468372

Author: Peter Tannenbaum

Publisher: PEARSON

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Chapter 10, Problem 26E

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The Annual percent rate (APR) charged by Cash Net USA.

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Chapter 10, Problem 25E

Chapter 10, Problem 27E

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Chapter 10 Solutions

Excursions in Modern Mathematics (9th Edition)

Ch. 10 - Express each of the following percentages as a...Ch. 10 - Express each of the following percentages as a...Ch. 10 - Express each of the following percentages as a...Ch. 10 - Express each of the following percentages as a...Ch. 10 - Suppose that your lab scores in a biology class...Ch. 10 - There were four different sections of Financial...Ch. 10 - A 250-piece puzzle is missing 14 of its pieces...Ch. 10 - Jefferson Elementary School has 750 students. The...Ch. 10 - At the Happyville Mall, you buy a pair of earrings...Ch. 10 - Arvins tuition bill for last semester was 5760. If...

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The Annual percent rate (APR) charged by Cash Net USA.

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Chapter 10 Solutions

To find:

The Annual percent rate (APR) charged by Cash Net USA.