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A radio commercial for a loan company states: "You only pay 37¢ a day for each $500 borrowed." If you borrow $2,937 for
Posted: Thu May 19, 2022 12:21 am
by answerhappygod
- A Radio Commercial For A Loan Company States You Only Pay 37 A Day For Each 500 Borrowed If You Borrow 2 937 For 1 (10.98 KiB) Viewed 58 times
A radio commercial for a loan company states: "You only pay 37¢ a day for each $500 borrowed." If you borrow $2,937 for 144 days, what amount will you repay, and what annual interest rate is the company actually charging? (Assume a 360-day year.) a. Amount you repay = $ (Round to two decimal places.)