Payday Loan Jakes car needs repairs but he is short of cash. A payday loan company
Chapter 6, Problem 61(choose chapter or problem)
Payday Loan Jakes car needs repairs but he is short of cash. A payday loan company charges a fee of $46.55 for a two-week loan of $250. This is equivalent to a discounted loan with proceeds of $250 and a loan amount of $296.55. What per annum simple rate of interest is being charged? Source: mycashnow.com
Unfortunately, we don't have that question answered yet. But you can get it answered in just 5 hours by Logging in or Becoming a subscriber.
Becoming a subscriber
Or look for another answer