anonymous
  • anonymous
Payday loans are a type of loan where you can get money for a future paycheck, typically two weeks in advance. A typical payday loan service might charge $15 for a loan against a paycheck you will receive in two weeks. The interest rate is 10% of the paycheck over that two-week period. Given this information, which variables in the interest formula are known? Develop a formula that will solve for the unknown variable.
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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schrodinger
  • schrodinger
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jackthegreatest
  • jackthegreatest
is the $15 the interest?
jackthegreatest
  • jackthegreatest
if it is u can set up a proportion
anonymous
  • anonymous
I believe so

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jackthegreatest
  • jackthegreatest
ok ur proportion is: 15/x = 10/100
jackthegreatest
  • jackthegreatest
10x=1500 x = 150
jackthegreatest
  • jackthegreatest
does that help?
jackthegreatest
  • jackthegreatest
@cooperlaine
anonymous
  • anonymous
Yes. thank you
jackthegreatest
  • jackthegreatest
welcome : )

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