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Dwight took out a payday loan for $1250 due in 4 weeks that charged a $100 fee what is the periodic interest rate of the loan? A.104% B.416% C.8% D.32%
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Dwight took out a payday loan for $1250 due in 4 weeks that charged a $100 fee what is the periodic interest rate of the loan?

A.104%
B.416%
C.8%
D.32%

User Roryhewitt
by
7.3k points

2 Answers

4 votes

Answer:

the answer is 8%

Explanation:

i just took the test and got it right, hope this helps!

User Ryzal Yusoff
by
7.1k points
4 votes

Answer:

8%

Explanation:

User Dnlbrky
by
8.1k points
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