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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asked Oct 19, 2021 186k views

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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?

Mathematics
college

Kliment asked

by Kliment

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Answer:

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

Explanation:

Therealsachin answered Oct 23, 2021

by Therealsachin

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