Myrtle needs to borrow $200 and is hoping to get a payday loan with an annual percentage rate (APR) of less than 50%. If a company charges her $30 in fees for the loan, what is the minimum loan term needed that would give Myrtle her desired APR?a.90 daysb.100 daysc.110 daysd.120 days

Question

Revolt · Accepted Answer

C

Consumer Responsibilities

Myrtle needs to borrow $200 and is hoping to get a payday loan with an annual percentage rate (APR) of less than 50%. If a company charges her $30 in fees for the loan, what is the minimum loan term needed that would give Myrtle her desired APR?a.90 daysb.100 daysc.110 daysd.120 days

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