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A lender makes a $4,000 90-day consumer loan. Interest of 10% is charged using a 360-day year. What is the APR? Express the rate to the nearest tenth of a percent.

A lender makes a $4,000 90-day consumer loan. Interest of 10% is charged using a 360-day year. What is the APR? Express the rate to the nearest tenth of a percent.
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A lender makes a $4,000 90-day consumer loan. Interest of 10% is charged using a 360-day year. What is the APR? Express the rate to the nearest tenth of a percent.

User Sumeet Gavhale
by
8.3k points

2 Answers

3 votes

Answer:

Explanation:

User Tom Bartel
by
8.7k points
5 votes

$4500 is the answer

User Hans Van Dodewaard
by
8.1k points
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