A radio commercial for a loan company states: “You only pay $0.29 a day for. each $500 borrowed.” If you borrow $1,500 for 120 days, what amount will you. repay, and what annual interest rate is the company actually charging?

Answers

Answer 1

Answer: Total Interest will be = .29*1500*12 / 500 = 104.4
so total amount to be repay = 1500+104.4=1604.4
and annual interest rate = 104.4*100*360/1500*120=20.88%
hope it helps

Answer 2

Answer:

Answer:

Total amount to be repay is $ 1604.4

The annual interest rate the company actually charging is 25.40%

Step-by-step explanation:

Given: A radio commercial for a loan company states: “You only pay $0.29 a day for each $500 borrowed.” We have borrowed $1,500 for 120 days.

We have to determine the amount to be repay and the annual interest rate the company actually charging.

UNITARY method is a method in which we first find the value of a single unit and then find the desired value by multiply it with unit value.

Since, we have to pay $0.29 a day for each $500 borrowed.

Thus, when we borrow $1 , we pay $(0.29)/(500)$

So, when $1500 is borrowed , we pay $(0.29)/(500)* 1500=0.87$

Thus, for 120 days we pay 0.87 × 120 = $104.4

Thus, total amount to be repay = 1500 + 104.4 = $ 1604.4

and annual interest rate is given by,

$SI ={P* r* t}$

We have to find rate

Simple interest = $ 104.4

Principal = $1500

time = 120 days

In year time is $(120)/(365)$

Substitute, we have,

$104.4=(1500* r* 120)/(365)$

Simplify, we have,

r = 25.40%

Thus, the annual interest rate the company actually charging is 25.40%

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Round 8.043 to the nearest hundredth

Answers

Rounding to the nearest hundredth would make the answer be: 8.04. Just move the digits over twice to the right and if the number is 5 or greater(for the number 3), the answer would have been: 8.05. But since it is a 3(lower than 5), then the answer would just be 8.04.
Hope this helps! :-)

It is 8.because you look at the 4 cuz it is in the hundredths place the you look at the 3 if it is 4 or less take it away if it is 5 or more add 1. It's less so take everything away that is behind the decimal

If f(x) = x2 and g(x) = 3x + 1, then g(f(2))= ?

Answers

Answer:

Step-by-step explanation:

f(2) = 2² = 4

g(4) = 3(4) + 1 which is 13

What is the value of the expression below when w=2?
8w^2+2w-3

Answers

Answer:
33
Step by Step:

8w^2+2w-3

Substitute in the value 2 for w

8(2)^2+2(2)-3

Solve exponents first:

8(4)+2(2)-3

Solve grouping symbols:

32+4-3

Simplify the equation:

33

Can anyone help its due in 10 minuets!