A company offering tax refund anticipation loans is trying to draw new customers. The company guarantees that

Question

A company offering tax refund anticipation loans is trying to draw new customers. The company guarantees that the annual percentage rate on its loans is 39%. What fees would the company charge on a $1,200 loan if the term of the loan is 18 days? (Round to the nearest dollar).

$18
$23
$28
$30

GPT-5 mini · Answer

APR formula: fee = 0.39 × \$1,200 × (18/365) = \$23.09 ≈ \$23.

Answer: $23.

A company offering tax refund anticipation loans is trying to draw new customers. The company guarantees that the annual percentage rate on its loans is 39%. What fees would the company charge on a $1,200 loan if the term of the loan is 18 days? (Round to the nearest dollar).

$18
$23
$28
$30

All Answers 1

Submit Your Answer

A company offering tax refund anticipation loans is trying to draw new customers. The company guarantees that the annual percentage rate on its loans is 39%. What fees would the company charge on a $1,200 loan if the term of the loan is 18 days? (Round to the nearest dollar). $18 $23 $28 $30

All Answers 1

Submit Your Answer

A company offering tax refund anticipation loans is trying to draw new customers. The company guarantees that the annual percentage rate on its loans is 39%. What fees would the company charge on a $1,200 loan if the term of the loan is 18 days? (Round to the nearest dollar).

$18
$23
$28
$30