Warm Up U1 D15

Last updated about 6 years ago
3 questions
Note from the author:
Interest Rate
1

Which is a better investment? An APR of 3.37% compounded quarterly or 3.0% compounded daily?
WHY?

1

You are a little short of cash this month and get a loan from "ACE Cash Express". They offer you a loan till you next pay check in 21 days, so you borrow $250. NOTE: these are actual rates I got off their website!!!

What is the efective rate for this loan?

1

How much will you owe?