You are expecting a tax refund of $4,000 in 10 weeks. A tax preparer offers you an "interest-free" loan of $4,000 for a fee of $50 to be repaid by your refund check when it arrives in 10 weeks. Thinking of the fee as interest, what weekly simple interest rate would you be paying on this loan (as a percent)? What is the corresponding annual rate (as a percent)? weekly simple interest rate annual simple interest rate
You are expecting a tax refund of $4,000 in 10 weeks. A tax preparer offers you an "interest-free" loan of $4,000 for a fee of $50 to be repaid by your refund check when it arrives in 10 weeks. Thinking of the fee as interest, what weekly simple interest rate would you be paying on this loan (as a percent)? What is the corresponding annual rate (as a percent)? weekly simple interest rate annual simple interest rate
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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You are expecting a tax refund of $4,000 in 10 weeks. A tax preparer offers you an "interest-free" loan of $4,000 for a fee of $50 to be repaid by your refund check when it arrives in 10 weeks. Thinking of the fee as interest, what weekly simple interest rate would you be paying on this loan (as a percent)? What is the corresponding annual rate (as a percent)?
weekly simple interest rate
annual simple interest rate
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