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29 November, 07:30

Candis took out a payday loan with an effective interest rate of 15,400%. if she had 220 to invest for a year at this interest rate, how much would make in interest?

A. 3,388,000

B 338,800

C ... 3388

D 33,880

+1
Answers (1)
  1. 29 November, 07:45
    0
    The formula is

    I=prt

    I interest?

    P 220

    R 15400/100=154

    T time 1 year

    I=220*154*1

    I=33,880

    It's d
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