zamirac10 zamirac10

29-09-2022
Mathematics

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Imagine you take out a payday loan for $500. The lender advertises a 15% interest rate, to be paid in two weeks (your next payday). Note: Interest is a fee that lenders charge, that you must pay on top of your loan amount. Charging interest is how lenders make money. Calculate the interest (dollar amount) charged for the first two weeks. Write the full amount owed in space below. You can show your work using the sketch area.

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