Question: You borrow $250 and in two weeks pay back $275. What is the annual interest rate you are paying? explain how to get this answer:

You borrow $250 and in two weeks pay back $275. What is the annual interest rate you are paying?

explain how to get this answer: 1,091.82%

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!

Q:

1. Develop a list of at least five search engine optimization strategies to help Gitman Brothers move up in search engine results. 2. Write a memo to the managers at Gitman Brothers that outlines the...

Q:

1. Payday Loan You borrow $250 and in two weeks pay back $275. What is the annual interest rate you are paying

Q:

Hello. I'm looking for some help completing my finance project. (10% total course grade) There are quite a few questions. (40 total) I can check the answers one time before submitting. Hoping for...

Q:

A PDF version of this assignment is attached.I'll also put it in the Assignments folder in Files.As usual, you'll answer the questions in the online version.That version will be available for you to...

Q:

Its micro... explain every part 8. Overhaul of a production line generates the following incremental cash inflows over the line's 5-year remaining life. C1 C2 C3 CA C's Cash inflow ($ million) +1.5...

Q:

Listen to the following videos and then complete the assignments using the changed numbers on the guidance report. Place your answers on the guidance report. Open the Guidance Report and rework the...

Q:

Can someone help me with this? I need it by tomorrow chapter 2 Issues in Accounting for Corporate Debt and Equity istockphoto Learning Objectives Be able to articulate the advantages and...

Q:

Hi there I need the answers to these two sets of assignments. It's accounting 14 chapter 4 Accrual Accounting Concepts Exercises: Set B Identify point of revenue recognition. (LO 1), C E4-1B The...

Q:

For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...

Q:

For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...

Q:

Explain the results so I know how to do the calculations Harry Hurler has been playing baseball since he was five years old and has always dreamed of playing in the big leagues. Last season, he was a...

Q:

Use the information for Jenny Corporation in E18-9, and assume that the company reports accounting income of $155,000 in each of 2012 and 2013, and that there is no reversing difference other than...

Q:

When 0.1 M persulfate ions (-2 charge) reacts with 0.1 M iodide ions (-1 charge), if the rate constant of this reaction at room temperature and 0.1 M ionic strength was 3x 10 ^ -5 L/mol.s. The rate...

Q:

The Basel Accords: Part 2 A . Coordinates monetary policy among 1 1 countries. B . Provides international deposit insurance. C . Establishes reserve requirements for the IBFs. D . Provides...

Q:

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

Q:

2. You organized a study group to prepare for your history final exam and invited a handful of other hardworking students from class. Another classmate, Scott, shows up. Scott is rarely prepared for...

Q:

Was the beach cleaner at the end of the day as a result of the groups efforts? Before-and-after photos of the beach reveal a very successful cleanup.

Q:

3. Managing a local, casual restaurant has its ups and downs, and today is one of the downs. Customers have been complaining that the waiters and waitresses have not been friendly, so youve decided...