Final answer:
The APR of 443% equates to a weekly interest rate of about 8.52%. For a $300 loan, the interest accrued over a week would be $25.56, leading to a repayment amount of $325.56, which does not match any of the provided options.
Step-by-step explanation:
The question asks how much one would have to repay for a loan of $300 with an APR of 443% if the loan is borrowed for one week. The options provided are: a) $385.29, b) $400.29, c) $415.29, and d) $430.29.
To calculate the amount to be repaid, we need to understand that APR stands for Annual Percentage Rate. In this scenario, the weekly interest rate can be determined by dividing the APR by 52 weeks. The weekly interest rate is 443% ÷ 52, which is approximately 8.52%. The interest for one week on a $300 loan would be $300 × 0.0852 = $25.56. Adding this interest to the principal amount gives us $300 + $25.56 = $325.56, which is not listed in the provided options. There seems to be an error in the options given as they do not match with the expected repayment amount following these calculations.