4. Frankie's car broke down. The repair
(812B) costs are $400, Because he does not
have any money saved, he will have
to get a payday loan" for the car
repair. He researched 7-day payday
Loans and found that he will owe
$9,50 for every $100 he borrows,
plus the money he borrows. How
much will Frankie have to pay back,
if he takes the 7-day payday loan?
A)
$38.00
$438,00
$509,60
$766,50