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I borrow $600 for 5 weeks. The amount of interest I pay is $20 per $100 borrowed. What is the APR at which you are borrowing money?
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I borrow $600 for 5 weeks. The amount of interest I pay is $20 per $100 borrowed. What is the APR at which you are borrowing money?

User Lenissa
by
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1 Answer

3 votes

Answer:

you borrowed $3,000 and payed $60 in interest

Explanation:

600x5= 3000

3000/100= 30

30x20=60

User Rfan
by
7.6k points
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