Sidney took out a payday loan for $1200 that charged an $85 fee. if the loan matures in 2 weeks, what is the approximate effective interest rate of the loan?

The correct answer is 493%.

Step-by-step explanation:

solution:

→c= a b , that is product of a and b is possible only when when a is m × n matrix and b is n × p matrix.

that is, number of columns of a= number of rows of b.

so, size of matrix , c= a b is , if a = (m × n)matrix

b= (n × p)matrix

then a b = [ (m × n)matrix] ×[   (n × p)matrix ]

→→c= a b= [m × p ] matrix

→→size of product a b will be equal to = number of rows of a × number of columns of b

the answer would be c:   ax + b = ax + c

step-by-step explanation: