Question

A payday loan is made for four weeks, where the amount of interest owed per $100 borrowed is $30 If you borrow $1100 for four weeks, how much do you owe at the end of the four weeks? Please show work.

Name: a payday loan is made for four weeks where the amount of interest owed per 100 borrowed is 30 if you borrow 1100 for four weeks how much do you owe at the end of the four weeks please show w 75623
Uploaded: 2022-09-30T23:24:11-08:00
Duration: 1 min 47 s
Channel: Benjamin Densmore
Description: a payday loan is made for four weeks where the amount of interest owed per 100 borrowed is 30 if you borrow 1100 for four weeks how much do you owe at the end of the four weeks please show w 75623

          A payday loan is made for four weeks, where the amount of
interest owed per $100 borrowed is $30 If you
borrow $1100 for four weeks, how much do you owe at the
end of the four weeks? Please show work.

Added by Ashley B.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Benjamin Densmore

09/30/2022

Step 1

We know that for every $100 borrowed, $30 is owed in interest. So, we divide $1100 by $100 to find out how many "units" of $100 are in $1100. $1100 ÷ $100 = 11 So, there are 11 "units" of $100 in $1100. Show more…

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A payday loan is made for four weeks, where the amount of interest owed per $100 borrowed is $30 If you borrow $1100 for four weeks, how much do you owe at the end of the four weeks? Please show work.