Register
Tess took out a payday loan with an effective interest rate of 34,700%. If she had $240 to invest for a year at this interest rate, how much would she make in interest? A. $8328 B. $83,280 C. $8,328,000
11.0k views
2 votes
Tess took out a payday loan with an effective interest rate of 34,700%. If she had $240 to invest for a year at this interest rate, how much would she make in interest?

A. $8328
B. $83,280
C. $8,328,000
D. $832,800

User Robert White
by
8.5k points

2 Answers

5 votes
83, 280 is the correct answer to your question hope this helps

User Jason Rikard
by
7.8k points
6 votes
Tess invests $240 and an effective interest rate is : 34,700%.
If we want to calculate the interest we have to multiply $240 by 347.
( 34,700% = 347 * 100 % ):
$240 * 347 = $83,280
Answer:
B. $83,280

User Dave Bennett
by
7.1k points
← Prev Question Next Question →

Related questions

User Koraktor
asked Jul 21, 2024 139k views
700% of what number is 2,870 Please I need to answer this
Koraktor asked Jul 21, 2024
by Koraktor
8.0k points
1 answer
4 votes
139k views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!