Question: Personal Finance: Sometimes I'll figure these math problems out, then the next I am confused! Help with this please: I am just a bit confused
Personal Finance:
Sometimes I'll figure these math problems out, then the next I am confused!
Help with this please:
I am just a bit confused not getting the APR: I have done the problem but still coming up with the wrong APR.
Question:
| What was the APR on a $1,600 payday loan taken out for 30 days if your repayment on the loan cost you $1,750? (Assume 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.) |
| APR | % |
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
