How is the interest rate on a payday loan calculated? a. loan amount divided by total fees b. total fees divided by loan amount c. total fees divided by days of loan d. apr divided by 365

APR divided by 365

Step-by-step explanation:

To Find: How is the interest rate on a payday loan calculated?

            a. loan amount divided by total fees

            b. total fees divided by loan amount

            c. total fees divided by days of loan

            d. APR divided by 365

Solution:

APR -  Annual percentage rate

Since APR is the annual interest i.e. interest fro 365 days

So, to Find interest for a pay day .

We need to divide APR by 365

Thus Option D is correct.

APR divided by 365

use an equation of ratios to determine the amount of gas needed to fill the tank.

    0.2             0.8

  =    

288.75             x

                                                              231 gal

so, 0.2x = (0.8)(288.75 gal), and x = = 1155 gal.

                                                                0.2

it would take 1155 gal. to fill the tank.

the cost would be

1155 gal         $3

* = $3465   (answer)

      1           1 gal

hope this you

all it means is function 3