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If a nine-day single payment loan has a periodic interest rate of 10.5%, what is the approximate effective interest rate of the loan? A. 56,356,3% B. 5635.6% C. 5735.6% D. 57,35…

If a nine-day single payment loan has a periodic interest rate of 10.5%, what is the approximate effective interest rate of the loan? A. 56,356,3% B. 5635.6% C. 5735.6% D. 57,35…
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If a nine-day single payment loan has a periodic interest rate of 10.5%, what is

the approximate effective interest rate of the loan?
A. 56,356,3%
B. 5635.6%
C. 5735.6%
D. 57,356.3%

User Atra Azami
by
7.7k points

1 Answer

5 votes
B . 5635.6% not for sure but I think that’s the answer
User Tamas Czinege
by
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