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08-11-2020
Mathematics

contestada

A payday loan store charges $45 for a one-month loan of $180. What annual interest rate is this equivalent
to?
%
Round your answer to one decimal place if necessary.
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moonwolfs moonwolfs

08-11-2020

Answer:

(1+r/12)=1.075

r/12=0.075

r=0.9 or 90%

Step-by-step explanation:

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