Question

I need help with this I'm not sure how to answer?

Answer 1

Given that;

It cost her $10 for every $100;

`\text{For \$500 it will cost her 5}*\text{ \$10 = \$50}`

It also cost her a one-time fee of $150.

The total cost for her $500 loan is;

`\begin{gathered} C=\text{ \$50 + \$150} \\ C=\text{ \$200} \end{gathered}`

Therefore, the total cost for her $500 loan is;

`\text{\$200}`