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OpenStudy (anonymous):
A payday loan company charges 4 percent interest for a two-week period. What would be the annual interest rate from that company?
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jimthompson5910 (jim_thompson5910):
There are 52 weeks in a year, so 52/2 = 26 two-week periods in a year. You need to solve 4/1 = x/26 for x to get your answer
OpenStudy (anonymous):
4/26?
jimthompson5910 (jim_thompson5910):
no
jimthompson5910 (jim_thompson5910):
cross multiply
OpenStudy (anonymous):
4*26?
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