Question: Question 7 10 points Save Answer Your roommate let you borrow $372 to buy the PS5 4 months ago. You just paid him back today

 Question 7 10 points Save Answer Your roommate let you borrow$372 to buy the PS5 4 months ago. You just paid him

Question 7 10 points Save Answer Your roommate let you borrow $372 to buy the PS5 4 months ago. You just paid him back today and gave him $35 extra for interest. What is the annual percentage rate (APR)? Convert to a percent, round to 2 decimal places Question 3 10 points Save Answer Your roommate let you borrow $197 to buy the PS5 3 months ago. You just paid him back today and gave him $34 extra for interest. What is the effective annual rate? Convert to a percent, round to 2 decimal places

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!