Josh took out a payday loan for $1300 that charged a $75 fee. If the loan matures in 2 weeks, what is the approximate effective interest rate of the loan?
A. 430%
B. 33%
C. 43%
D. 330%
(Apex)

Answers

Answer 1

The approximate effective interest rate of the loan is 330%.

What is Interest?

The cost of borrowing money or the fee you charge to lend it is known as interest. The most common way to represent interest is as a yearly percentage of the loan amount. The interest rate on the loan is known as this percentage.

Given:

The amount owed increases by $75 in two weeks.

n= 52/2 = 26 periods

If the loan applied with same interest rate, then the total amount owed

=[tex](1375/1300)^{26}[/tex]  x $1300

Now, If we subtract the original principle $1300, then the compounding interest as a percentage of that principle is

= [[tex](1375/1300)^{26}[/tex]  x $1300  - $1300] / $1300

= 5,493.8 - 1300 / 1300

= 330%

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Answer 2

Final answer:

To find the effective interest rate of Josh's payday loan, you divide the interest ($75) by the principal ($1300) and multiply by 100 to get a two-week rate. Then you annualize it by multiplying by the number of two-week periods in a year (26), resulting in an approximate annual interest rate of 150%. The options provided in the question appear to be incorrect considering this calculation.

Explanation:

To calculate the effective interest rate of Josh's payday loan, we first need to determine the interest he's paying compared to the principal. The fee associated with the loan can be considered the interest, which in this case is $75. Since the loan is for $1300, we can calculate the interest rate for the two-week period by dividing the interest by the principal and then multiplying by 100 to get a percentage:


Interest Rate for 2 Weeks = ($75 ÷ $1300) × 100

Then, to annualize this rate, since there are 26 two-week periods in a year, we multiply the result by 26:

Annualized Interest Rate = Interest Rate for 2 Weeks × 26

Performing the calculations gives us:

Interest Rate for 2 Weeks = (75 ÷ 1300) × 100 ≈ 5.769%


Annualized Interest Rate = 5.769% × 26 ≈ 150%

However, the options given in the question do not match this calculation. It seems there might be a mistake with the options provided. The effective interest rate calculated here is approximately 150%, which is much lower than the options given. It is crucial to double-check the information or the methodology if this seems inconsistent with expected results. Note that payday loans typically have extremely high-interest rates, so a very high annual percentage rate (APR) is possible, but it may be calculated in a different manner.


Related Questions

El área de una propiedad en metros cuadrados, mide 704/5. Se construye una casa que ocupa 5/6 del área total. La mitad del área restante se utiliza para construir una terraza, cuanta área falta por construir?

Answers

Answer:

The area left to build is [tex]\frac{704}{60}\ m^{2}[/tex]

Step-by-step explanation:

The question in English is

The area of a property in square meters, measures 704/5. A house is built that occupies 5/6 of the total area. Half of the remaining area is used to build a terrace, how much area is left to build?

we know that

The total area represent the fraction 6/6

A house represent the fraction 5/6 of the total area

The remaining area represent the fraction  (6/6)-(5/6)=1/6 of the total area

If half of the remaining area is used to build a terrace

then

the area of the terrace represent the fraction (1/6)/2=1/12 of the total area

therefore

The area left to build represent the fraction 1/12 of the total area

so

[tex](\frac{1}{12})\frac{704}{5} =\frac{704}{60}\ m^{2}[/tex]

Which two values of x are roots of the polynomial below? x^2-11x+15

Answers

Answer:  The correct options are

(B) [tex]x=\dfrac{11+\sqrt{61}}{2}.[/tex]

(D) [tex]x=\dfrac{11-\sqrt{61}}{2}.[/tex]

Step-by-step explanation:  We are given to select the values of x that are the roots of the following polynomial :

[tex]x^2-11x+15.[/tex]

The quadratic equation formed by the given polynomial will be

[tex]x^2-11x+15=0~~~~~~~~~~~~~~~~~~~~~~~~~(i)[/tex]

we know that

the solution set of a quadratic equation [tex]ax^2+bx+c=0,~~a\neq 0[/tex] is given by

[tex]x=\dfrac{-b\pm\sqrt{b^2-4ac}}{2a}.[/tex]

From equation (i), we have

a = 1, b = -11  and  c = 15.

Therefore, the roots of equation (i) will be given by

[tex]x=\dfrac{-(-11)\pm\sqrt{(-11)^2-4\times1\times15}}{2\times1}\\\\\\\Rightarrow x=\dfrac{11\pm\sqrt{121-60}}{2}\\\\\\\Rightarrow x=\dfrac{11\pm\sqrt{61}}{2}.[/tex]

Thus, the roots of the given polynomial are

[tex]x=\dfrac{11+\sqrt{61}}{2},~~~~~x=\dfrac{11-\sqrt{61}}{2}.[/tex]

Options (B) and (D) are CORRECT.

Answer:

b and d

Step-by-step explanation:

One letter is selected from the words "conditional probability." What is the probability that an "t" or "a" is chosen?

Answers

Answer:

4 out of 22 = 4/22

Step-by-step explanation:

What fraction will each person get if 8 friends share 5 apples equally? Enter your answer in the boxes.

Answers

Answer:

5/8

Step-by-step explanation:

5/8 is equal to 5 divided by 8 and your dividing 5 so all the friends can have a equal amount. every friend would also get 5/8 of a apple

Every friend would get 5/8 parts of the total apple.

What is fraction?

A fraction is a part of a whole number, and a way to split up a number into equal parts.

Given that, 8 friends want to share 5 apples equally. We need to find that what fraction will each person get,

Since, we have 5 apples, which is to be distributed to 8 persons,

To find the same, we will have to, divide 5 apples equally among 8 persons,

Therefore,

If we divide 5 by 8 then the faction of 5/8 of the whole is the part that each of the 8 friends going to have,

Hence, each friend would get 5/8 parts of the total apple.

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Evaluate lim x → 0+ x ln(x3). solution the given limit is indeterminate because, as x → 0+, the first factor (x) approaches 0 correct: your answer is correct. while the second factor ln(x3) approaches −∞. writing x = 1/(1/x), we have 1/x → ∞ as x → 0+, so l'hospital's rule gives lim x → 0+ x ln(x3) = lim x → 0+ ln(x3) 1/x = lim x → 0+ 3/x −1/x2 = lim x → 0+ incorrect: your answer is incorrect. = .

Answers

[tex]\displaystyle\lim_{x\to0^+}x\ln x^3=\lim_{x\to\infty}\frac{\ln\frac1{x^3}}x=-3\lim_{x\to\infty}\frac{\ln x}x=\frac\infty\infty[/tex]

L'Hopital's rule tells us the limit is equal to

[tex]-3\displaystyle\lim_{x\to\infty}\frac{\frac1x}1=0[/tex]

Which type of function correctly describes the exponential function

g(x)=3(4)^x-5

Answers

Answer:

See below.

Step-by-step explanation:

This function g(x) = 3(4^x) - 5 is an exponential function since it has a variable as an exponent. It has a initial value of 3 and a multiplicative rate of change of 4. The function itself when x = 0 is y = -2.

Liam is a tyre fitter it takes him 56 minutes to fit 4 tyres to a van how long would it take to fit 12 tyres to 3 vans

Answers

Answer:

168 minutes, or 2 hours, 48 minutes

Step-by-step explanation:

Set up a proportion and solve.

56 minutes is to 4 tires as 'x' minutes are to 12 tires

becomes

56/4 = x/12         solve for x...

[56(12)]/4 = x            (multiply both sides by 12 to get rid of the fraction)

672/4 = x                 (simplify  52(12) = 672)

168 = x                      (simplify 672/4 = 168)          

Evaluate the log without a calculator ( Show your work )

Look at image. That is the problem.

Answers

Answer:

8

Step-by-step explanation:

Given in the question a logarithm expression

[tex]125^(log_{5}2)[/tex]

We will use Exponent of Log Rule

[tex]b^(log_{b}k) = k[/tex]

here b = 5

         k = 2

Suppose

[tex]125^(log_{5}2) = x[/tex]

take cube root on both sides of this equation

[tex]\sqrt[ 3]{(125^(log_{5}2)}=\sqrt[3]{x}[/tex]

[tex]\sqrt[3]{(125)} ^(log_{5}2)=\sqrt[3]{x}[/tex]

[tex]5^(log_{5}2)}=\sqrt[3]{x}[/tex]

Now according to the rule

2 = ∛x

to remove cube root take cube on both side

x = 8

so [tex]125^(log_{5}2 )[/tex] = 8

Find the measure of arc KL.

Answers

Answer:

The measure of arc KL is [tex]145\°[/tex]

Step-by-step explanation:

we know that

[tex]arc\ JK=arc\ KL=x\°[/tex]

so

[tex]2x+70\°=360\°[/tex] -----> complete circle

solve for x

[tex]2x=360\°-70\°[/tex]

[tex]2x=290\°[/tex]

[tex]x=145\°[/tex]

I will give BRAINLY im bad at math

Answers

Answer:

[tex]an = 2.5 + (n - 1)(-5)[/tex]

Step-by-step explanation:

we know that

The explicit formula for the nth term of an arithmetic sequence is given by the formula

[tex]an = a1 + (n - 1)r[/tex]

where

a1 is the first term

n is the term number

r is the common difference

In this problem we have

[tex]a1=2.5, r=-5[/tex]

substitute

[tex]an = 2.5 + (n - 1)(-5)[/tex]

Knowing that QPT = ARZ, a congruent side pair is?

Answers

Answer:

[tex]\large\boxed{\overline{QT}\cong\overline{AZ}}[/tex]

Step-by-step explanation:

[tex]\triangle QPT\cong\triangle ARZ\\\\\begin{array}{c|c}Q&A\\P&R\\T&Z\end{array}\Rightarrow\begin{array}{ccc}\overline{QP}\cong\overline{AR}\\\overline{PT}\cong\overline{RZ}\\\overline{QT}\cong\overline{AZ}\end{array}[/tex]

Answer:

First option.

Step-by-step explanation:

I drew the triangles to see it better. If two triangles are congruent the sides and the angles have the same length. Also, the order of the vertex is important. I put them as it is enunciated. So, watching the image the congruent sides are:

QT and AZ

QP and AR

PT and RZ

Then, the correct option is the first one.

What is the volume of this right rectangular prism. 7 feet length 2 feet width and 3.5 feet Height

Answers

i think the answer to this problem is49

Answer:

The volume of this right rectangular prism is 49 Cubic feet.

Step-by-step explanation:

Here, the data is given

Lenght (l) = 7 feet

Widht (b) = 2 feet

Height (h) = 3.5 feet

Now, The Volume of rectangular prism

= l × b × h

= 7 × 2 × 3.5 feet

= 7 × 7 feet

= 49 cubic feet

Thus, The volume of this right rectangular prism is 49 Cubic feet.

-TheUnknownScientist

Simplify 27 2
the 2 is tiny so I think it's 27 to the power of 2

Answers

If the 2 is small it means 27 squared which is equal to 729

What are the mean, median, mode and range of the data set given the altitude of lakes in feet -12 -9 -14 -39 -49 -18 and -43

Answers

Hence, the lakes' altitudes varied by 40 feet. To sum up: Average: around -26.3 feet, Average: -18 feet , Zero mode and 30 to 40 ft.

what is mean ?

The mean, a statistic of central tendency in mathematics, is the average of a group of numerical values. It is also frequently known as the geometric average. A set of values' mean is calculated by adding up all of the values and dividing the result by the amount of values in the set. The mean can be determined, for instance, if the set of values is 3, 5, 7, 9, and 11, by multiplying the values together and dividing them by the total amount of numbers: Mean = (3 + 5 + 7 + 9 + 11) / 5 = 7 .As a result, 7 represents the set's mean value.

given

The median altitude of the lakes is -18 feet because the middle number is -18.

Mode: To identify the mode, we search the collection for the number that pops up the most often. There is no mode because no number appears more than once in this instance.

Range: To get the range, divide the largest by the smallest number:

Maximum number - smallest number equals the range (-9) - (-49) = 40

Hence, the lakes' altitudes varied by 40 feet. To sum up: Average: around -26.3 feet, Average: -18 feet , Zero mode and 30 to 40 ft.

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16...06...68...88...?...98
What is the missing number??

Answers

Answer:

L8

Step-by-step explanation:

We turn that upside-down

86 '? '88 '89 '90 '9I

Then obviously we can tell that ? is to be replaced by 87

86 '87 '88 '89 '90 '9I

Then we turn it back right-side up again, and we have:

I6, 06, 68, 88, L8, 98

Answer: L8

Hope this helps ;)

The missing number in the sequence 16...06...68...88...?...98 is 78

How to determine the missing number in the sequence

From the question, we have the following parameters that can be used in our computation:

16...06...68...88...?...98

When the number are flipped upside down, we have

91....90....89.....88......?.......86

In the above sequence, we can see that -2 is added to the previous term to get the new term

This means that the complete sequence is

91....90....89.....88......87.......86

When flipped, we have

16...06...68...88...78...98

Hence, the missing number is 78

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London owns a hybrid SUV that can travel 400 miles on a 15-gallon tank of gas. Determine how many miles he can travel on 6 gallons and number 16.

Answers

Answer:

Step-by-step explanation:

Kelly paid $54.60 for a bike helmet that was 20% off the original price. What was the original price

Answers

Final answer:

The original price of the bike helmet was $68.25, calculated by understanding that the $54.60 Kelly paid represented 80% of the original price after a 20% discount.

Explanation:

Kelly paid $54.60 for a bike helmet that was 20% off the original price. To find the original price of the helmet, we need to understand that the price Kelly paid is 80% of the original price, after the discount was applied. Therefore, the equation to find the original price (OP) is:

54.60 = 0.80 × OP

To solve for OP, we divide both sides of the equation by 0.80:

OP = 54.60 / 0.80

OP = $68.25

Thus, the original price of the bike helmet was $68.25.

what is the surface area of this square pyramid?

round your answer to the nearest tenth, if necessary.

a. 43.8yd^2
b. 66.6yd^2
c. 105 yd^2
d. 171.6^2

Answers

Answer:

c. 105 yd^2.

Step-by-step explanation:

First find the slant height (h) of each of the triangular walls:

tan 60 = h /  3.1

h = 3.1 tan 60

= 5.369 yds.

Area of each side = 3.1* 5.369

= 16.645

Total surface area of the pyramid

= 4 * 16.645 + 6.2^2

= 105.02 yd^2.

The answer is C because that’s the answer and I had to put at least twenty characters

HELP! ASAP
Find the area of the shaded region.

Step 1) Find the area of the bigger rectangle.

Step 2) Find the area of the smaller rectangle.

Step 3) Subtract the 2 polynomials.

Answers

Answer:

Tthe area of the shaded region is [tex](x^{2}-3x+36)\ unit^{2}[/tex]

Step-by-step explanation:

we know that

To find the area of the shaded region (blue region), subtract the area of the smaller rectangle from the area of the larger square

so

Find the area of the larger square

[tex]A=(x+1)^{2}=(x^{2}+2x+1)\ unit^{2}[/tex]

Find the area of the smaller rectangle

[tex]A=5(x-7)=(5x-35)\ unit^{2}[/tex]

Subtract the polynomials

[tex](x^{2}+2x+1)-(5x-35)=(x^{2}-3x+36)\ unit^{2}[/tex]

What is the probability of getting a head with the flip of a coin?

A) 0/2

B)1/4

C)1/2

D)2/2

Answers

Answer:

Answer is C (1/2)

Step-by-step explanation:

Identify the graph of 9X^2+4xy+5y^2-40=0 and find theta to the nearest degree.

Answers

Answer:

The answer is ellipse; 23° to the nearest degree ⇒ answer (d)

Step-by-step explanation:

* At first lets talk about the general form of the conic equation

- Ax² + Bxy + Cy²  + Dx + Ey + F = 0

∵ B² - 4AC < 0 , if a conic exists, it will be either a circle or an ellipse.

∵ B² - 4AC = 0 , if a conic exists, it will be a parabola.

∵ B² - 4AC > 0 , if a conic exists, it will be a hyperbola.

* Now we will study our equation:

- 9x² + 4xy + 5y² - 40 = 0

∵ A = 9 , B = 4 , 5 = 5

∴ B² - 4 AC = (4)² - 4(9)(5) = -164 < 0

∴ B² - 4AC < 0

∴ If a conic exists, it will be either a circle or an ellipse.

* To find the type of the graph lets check;

- If A and C are nonzero, have the same sign, and are not

 equal to each other, then the graph is an ellipse.

- If A and C are equal and nonzero and have the same

 sign, then the graph is a circle.

∵ A and C have same signs and are not equal

∴ The graph is an ellipse

* If we have term xy ⇒ B ≠ 0

∴ The graph is rotate by angle Ф

* To find the angle of rotation use the rule:

- cot(2Ф) = (A - C)/B

∵ A = 9 , B = 4 , C = 5

∴ cot(2Ф) = (9 - 5)/4 = 4/4 = 1

∴ tan(2Ф) = 1

∴ 2Ф = 45°

∴ Ф = 22.5° ≅ 23° to the nearest degree

* The answer is ellipse; with angle of rotation = 23°

If you have 3 4/6. Cups of sugar then divided it by 2 cups then added 4.9 cups how many eould you have

Answers

Answer:

11/6 or decimal 1.8333... + 4.9 = 6.733333....

Step-by-step explanation:

Simplify the following:

(3 + 2/3)/2

Express 4/6 in its lowest form by cancelling out gcd(4, 6) = 2 from the numerator and denominator. 4/6 = (2×2)/(2×3) = 2/3:

(2/3 + 3)/2

Put 3 + 2/3 over the common denominator 3. 3 + 2/3 = (3×3)/3 + 2/3:

((3×3)/3 + 2/3)/2

3×3 = 9:

(9/3 + 2/3)/2

9/3 + 2/3 = (9 + 2)/3:

((9 + 2)/3)/2

9 + 2 = 11:

(11/3)/2

11/3×1/2 = 11/(3×2):

11/(3×2)

3×2 = 6:

Answer:  11/6 or decimal 1.8333... + 4.9 = 6.733333....

Please help 100 points! Will mark Brainliest. Thank You!

Answers

HERE'S HOW TO DO IT :)

A composite figure is made up of several simple geometric figures such as triangles, rectangles, squares, circles, and semicircles.

To find the area of a composite figure, separate the figure into simpler shapes whose area can be found. Then add the areas together.

(SEE EXAMPLE ATTACHED)

HERES WHAT WE KNOW ABOUT COMPOSITE FIGURES:

Composite Figures. A figure (or shape) that can be divided into more than one of the basic figures is said to be a composite figure (or shape). For example, figure ABCD is a composite figure as it consists of two basic figures

let me know if i can help more :)

See the attached picture for the answers:

One of Alberto's zebra danios is 4/3 the lenght of one of his fancy guppies. Which fish is longer?

Answers

Answer:

The Zebra Danios!

Step-by-step explanation:

The zebra danios

4/3 is greater than 1, making it an improper fraction. Suppose that fancy guppy's length is x, the danios' length would be 4/3 x, which, since it is an improper fraction, is greater than x.

Mark me brainlest please!

I take half-credit my cousin aswell helped!

Please help me out.......... :)

Answers

Answer:

y = 16

Step-by-step explanation:

In a parallelogram opposite angles are congruent. Therefore we have the equation:

10y - 29 = 7y +19               add 29 to both sides

10y = 7y + 48               subtract 7y from both sides

3y = 48              divide both sides by 3

y = 16

(Q1) Which of the following is true about the function y = 3 • 2x?

Answers

Answer: Third option

Step-by-step explanation:

You have the function:

[tex]y=3*2^x[/tex]

Then, if the value of x increases by 1, you obtain:

-Rewrite the function:

[tex]y=3*2^{(x+1)}[/tex]

-Substitute values for x into the function and observe what happen to y. Then:

x=1

[tex]y=3*2^{(1+1)}=12[/tex]

x=2

[tex]y=3*2^{(2+1)}=24[/tex]  

x=3

[tex]y=3*2^{(3+1)}=48[/tex]  

The value of y is doubled.

Answer:

C=the value of x increases by 1, the value of y will double.

Step-by-step explanation:

M=−8r ^2 +11r−6 T=−7r ^2−9r+14 M+T=

Answer is: −15r ^2 +2r+8

Answers

Answer:

[tex]\large\boxed{M+T=-15r^2+2r+8}[/tex]

Step-by-step explanation:

[tex]M=-8r^2+11r-6\\T=-7r^2-9r+14\\\\M+T=?\\\\\text{Substitute:}\\\\M+T=(-8r^2+11r-6)+(-7r^2-9r+14)\\\\M+T=-8r^2+11r-6-7r^2-9r+14\qquad\text{combine like terms}\\\\M+T=(-8r^2-7r^2)+(11r-9r)+(-6+14)\\\\M+T=-15r^2+2r+8[/tex]

The expression that represents M + T is -15r^2 + 2r + 8

The equations for M and T are given as:

[tex]M=-8r^2 +11r -6[/tex]

[tex]T=-7r^2-9r+14[/tex]

The sum of M and T is represented as: M + T

This is then calculated as:

[tex]M+T=-8r^2 +11r -6-7r^2-9r+14[/tex]

Collect like terms

[tex]M+T=-8r^2 -7r^2+11r -9r-6+14[/tex]

Evaluate the like terms

[tex]M + T = -15r^2 + 2r + 8[/tex]

Hence, the expression that represents M + T is -15r^2 + 2r + 8

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Write an algebraic expression for "12 less than the quotient of 12 and a number z."

Answers

12-(12 divided by z) make sure divided by is not in words :)hope it helped

Answer:

Expression is 12 - [tex]\frac{12}{z}[/tex].

Step-by-step explanation:

Given  : "12 less than the quotient of 12 and a number z."

To find : Write an algebraic expression .

Solution : We have given 12 less than the quotient of 12 and a number z."

According to question :

Let the quotient = Q

quotient of 12 and a number z.

quotient = [tex]\frac{12}{z}[/tex].

12 less than the quotient of 12 and a number z.

12 - [tex]\frac{12}{z}[/tex].

Therefore, Expression is 12 - [tex]\frac{12}{z}[/tex].

Alex doesn't remember what the Zero Product Property is used for. Explain to Alex what the property is and how it is used.

Answers

Final answer:

The Zero Product Property in mathematics states that if the product of two numbers is zero, then at least one of the numbers must be zero. You typically use this property when solving quadratic equations by setting each factored term equal to zero and then solving for every variable.

Explanation:

The Zero Product Property is an essential concept in algebra, particularly when it comes to solving quadratic equations. The Zero Product Property states that if the product of two numbers, terms, or factors is zero, then at least one of the factors must be zero. In simple terms, if a * b = 0, then a has to be zero, or b has to be zero, or both.

To use the Zero Product Property, you usually start by setting an equation equal to zero. For example, let's solve the quadratic equation x^2 - 5x = 0. First, you would factor the equation to (x)(x-5) = 0. Now, using the Zero Product Property, we can set each factor equal to zero and solve for x. This gives us x = 0 and x = 5.

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Identify the equation of the translated graph in general form x^2-y^2=8 for T(4,3)

Answers

Answer:

B

Step-by-step explanation:

A transformation of T(a,b) in the equation would give this form:

[tex](x-a)^2+(y-b)^2=8[/tex]

So, T(4,3) means translation of 4 units in x and 3 units in y. Thus, we can write:

[tex](x-4)^2+(y-3)^2=8[/tex]

Expanding and rearranging, we get:

[tex](x-4)^2-(y-3)^2-8=0\\x^2-8y+16-y^2+6y-9-8=0\\x^2-y^2-8x+6y-1=0[/tex]

Answer choice B is right.

Answer:

B

x^2-y^2-8x+6y-1=0

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