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Mathematics, 12.11.2020 18:00 connormaxie

A-P-E-X - Belinda needs $2400 fast. She has the option of borrowing the $2400 for 5 days at an APR of 500% or borrowing the $2400 for 5 days with a fee of $180. She realizes that neither scenario is very good, but she wants to choose the option that is best for her. Help Belinda decide which is the "better" deal. (5 points: Part I - 1 point; Part II - 1 point; Part III - 1 point; Part IV - 1 point; Part V - 1 point) Part I: What is the length of the period of the $2400 loan for 5 days for a fee of $180? Part II: What is the number of periods for 1 year? Part III: What is the periodic interest rate of the $2400 loan for 5 days for a fee of $180? Part IV: What is the APR of the $2400 loan for 5 days for a fee of $180? Part V: Which is the "better" deal: borrowing the $2400 for 5 days at an APR of 500% or borrowing the $2400 for 5 days with a fee of $180? A-P-E-X

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