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Johnny Rockefeller had a bad credit rating and went to a local cash center. He took out a $100.00 loan payable in two weeks for $106.00. What is the percent of interest paid on this loan?
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Johnny Rockefeller had a bad credit rating and went to a local cash center. He took out a $100.00 loan payable in two weeks for $106.00. What is the percent of interest paid on this loan?

User Kliment
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1 Answer

2 votes

Answer:

156% interest annually so he payed 1/26 or 3.84615385%

Explanation:

User Therealsachin
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