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Kimberly took out a payday loan for $1500 due in 4 weeks that charged a $135 fee. What is the periodic interest rate of the loan

Kimberly took out a payday loan for $1500 due in 4 weeks that charged a $135 fee. What is the periodic interest rate of the loan
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Kimberly took out a payday loan for $1500 due in 4 weeks that charged a $135 fee. What is the periodic interest rate of the loan

User Chris Stratton
by
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1 Answer

1 vote

Explanation:

135 ÷ 1500 = 0.09 = 9%

User Llk
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