Jimmie has the option of borrowing $840 for 1 week at an APR of 550% or

borrowing the $840 for 1 week with a fee of $90. Which is the "better" deal?

Question

Mills

20 April, 08:53

+1

Answers (2)

Know the Answer?

Justus Walls · Answer 1

Answer: Borrowing the $840 for 1 week at an APR of 550%, since Jimmie will owe less interest this way than with the fee of $90

-APEX

Waylon Huynh · Answer 2

Answer: b. borrow $840 for 1 week at an APR 550%, since jimmie will owe less interest this way than with the fee of $90. APEX

Jimmie has the option of borrowing $840 for 1 week at an APR of 550% orborrowing the $840 for 1 week with a fee of $90. Which is the "better" deal?