A payday loan is a short-term loan that is repaid on the next payday, often by giving the lender electronic access to a personal checking account. Some states have statutes that regulate the fees that may be charged for payday loans. In Problems 87-90, express the annual interest rate as a percentage, rounded to the nearest integer. In Kansas, charges on a payday loan may not exceed 15 % of the amount advanced. Find the annual interest rate if $ 450 is borrowed for 7 days at the maximum allowable charge.
A payday loan is a short-term loan that is repaid on the next payday, often by giving the lender electronic access to a personal checking account. Some states have statutes that regulate the fees that may be charged for payday loans. In Problems 87-90, express the annual interest rate as a percentage, rounded to the nearest integer. In Kansas, charges on a payday loan may not exceed 15 % of the amount advanced. Find the annual interest rate if $ 450 is borrowed for 7 days at the maximum allowable charge.
Solution Summary: The author calculates the annual interest rate if 450 is borrowed for 7 days at the maximum allowable charge.
A payday loan is a short-term loan that is repaid on the next payday, often by giving the lender electronic access to a personal checking account. Some states have statutes that regulate the fees that may be charged for payday loans. In Problems 87-90, express the annual interest rate as a percentage, rounded to the nearest integer.
In Kansas, charges on a payday loan may not exceed
15
%
of the amount advanced. Find the annual interest rate if
$
450
is borrowed for
7
days at the maximum allowable charge.
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The function of shown in the figure is continuous on the closed interval [0, 9] and differentiable on the open
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Q6 What will be the allowable bearing capacity of sand having p = 37° and ydry
19 kN/m³ for (i) 1.5 m strip foundation (ii) 1.5 m x 1.5 m square footing and
(iii)1.5m x 2m rectangular footing. The footings are placed at a depth of 1.5 m
below ground level. Assume F, = 2.5. Use Terzaghi's equations.
0
Ne
Na
Ny
35 57.8 41.4 42.4
40 95.7 81.3 100.4
Q1 The SPT records versus depth are given in table below. Find qan for the raft 12%
foundation with BxB-10x10m and depth of raft D-2m, the allowable
settlement is 50mm.
Elevation, m 0.5 2
2 6.5 9.5 13 18 25
No.of blows, N 11 15 29 32 30 44
0
estigate shear
12%
Chapter 3 Solutions
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