Sidney took a $320 payday cash advance. The lender charges a $5 discounted administrative fee, 10...

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Sidney took a $320 payday cash advance. The lender charges a $5 discounted administrative fee, 10 percent interest (on the first $320 borrowed) and requires the loan to be paid in two weeks. a. If Sidney paid the loan in full two weeks later, what was the amount of the payment? (Omit the "$" sign in your response.) Amount of payment $ b. If Sidney paid the loan in full two weeks later, what was the total cost of the loan in dollars and as a percentage of the cash received? (Omit the "$" sign in your response. Round your percentage answer to 2 decimal places.) Cost of the loan (in dollars) Cost of the loan (in percentage) c. If Sidney did this, every two weeks for a year, how much in total would she pay in fees and interest? (Omit the "$" sign in your response.) Total fees $ d. If Sidney did this, every two weeks for a year, how much would she have saved by using a credit card and paying the credit card bill in full, before the due date? (Omit the "$" sign in your response.) Amount saved using credit card $ for the year Sidney took a $320 payday cash advance. The lender charges a $5 discounted administrative fee, 10 percent interest (on the first $320 borrowed) and requires the loan to be paid in two weeks. a. If Sidney paid the loan in full two weeks later, what was the amount of the payment? (Omit the "$" sign in your response.) Amount of payment $ b. If Sidney paid the loan in full two weeks later, what was the total cost of the loan in dollars and as a percentage of the cash received? (Omit the "$" sign in your response. Round your percentage answer to 2 decimal places.) Cost of the loan (in dollars) Cost of the loan (in percentage) c. If Sidney did this, every two weeks for a year, how much in total would she pay in fees and interest? (Omit the "$" sign in your response.) Total fees $ d. If Sidney did this, every two weeks for a year, how much would she have saved by using a credit card and paying the credit card bill in full, before the due date? (Omit the "$" sign in your response.) Amount saved using credit card $ for the year

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Answers to Sidneys Payday Loan a Amount of payment Interest 320 10 2 weeks 52 weeksyear 1231 Total ... View the full answer