Give medal 4 best answer
Which will have a higher effective interest rate — a payday loan for $1700 that is due in 16 days with a fee of $100, or a payday loan for $1700 that is due in 14 days with a fee of $100?

A. A payday loan for $1700 that is due in 14 days with a fee of $100, since it has the shorter period
B. A payday loan for $1700 that is due in 14 days with a fee of $100, since it has the longer period
C. A payday loan for $1700 that is due in 16 days with a fee of $100, since it has the longer period
D. A payday loan for $1700 that is due in 16 days with a fee of $100, since it has the shorter

Question

Give medal 4 best answer
Which will have a higher effective interest rate — a payday loan for $1700 that is due in 16 days with a fee of $100, or a payday loan for $1700 that is due in 14 days with a fee of $100?

A.	A payday loan for $1700 that is due in 14 days with a fee of $100, since it has the shorter period
 B.	A payday loan for $1700 that is due in 14 days with a fee of $100, since it has the longer period
 C.	A payday loan for $1700 that is due in 16 days with a fee of $100, since it has the longer period
 D.	A payday loan for $1700 that is due in 16 days with a fee of $100, since it has the shorter

jtvatsim · Answer

If you understand the question, you can probably just use your common sense to answer this one. Looking at the choices, which one do you personally think makes the most sense?

jtvatsim · Answer

Be sure to slow down and read the question. If you don't understand a particular word, let us know and we'll be happy to help. : )