Question: Help! I need to find the answer using a financial calculator. Question 1 0/1 point A payday loan company will lend you $938 right now.

Help! I need to find the answer using a financial calculator.
Help! I need to find the answer using a financial calculator. Question

Question 1 0/1 point A payday loan company will lend you $938 right now. In two weeks they will charge $5 and you will have to pay your paycheck of $1.034. What is the APR of this loan? Answer in percentage without the symbol Answer: 0x (280)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!