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20 April, 08:53

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?

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Answers (2)
  1. 20 April, 10:30
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    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
  2. 20 April, 10:59
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    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
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