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.
carol mailed a gift box to her sister the boxed gift weighed a total of 2 pounds the box alone weighed 13 ounces what was the wright of the gift
I circled the correct, could you explain using stoke
Female
Male
Totals
Less than High School
Diploma
0.077
0.110
0.187
High School Diploma
0.154
0.201
0.355
Some College/University
0.141
0.129
0.270
College/University Graduate
0.092
0.096
0.188
Totals
0.464
0.536
1.000
University Calculus: Early Transcendentals (4th Edition)
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