Final answer:
The annual interest rate charged for a one-month loan of $2250 with $90 interest is 48%, which is discovered by first finding the monthly rate of 4% and then multiplying by 12. The choices provided do not match this rate, indicating a possible error in the question.
Step-by-step explanation:
To determine the annual interest rate charged by the loan company for a $2250 one-month loan with $90 interest, the monthly interest rate should first be calculated. The monthly interest rate is calculated as the interest divided by the principal amount, which is $90 / $2250 = 0.04, or 4% per month. To find the annual interest rate, this monthly rate needs to be multiplied by 12 (as there are 12 months in a year): 0.04 * 12 = 0.48, or 48% annually.
Answer choices:
- 4
- 6
- 8
- 10
However, none of these choices match the correct calculation. Based on the calculation, the annual interest rate would be 48%, which is not an option provided, suggesting there may be an error in the question or options given. Since we were instructed to ignore typos or irrelevant parts of the question, we should reach out for clarification if needed.