Question

Dwight took out a payday loan for $1250 due in 4 weeks that charged a $100 fee what is the periodic interest rate of the loan?

A.104%
B.416%
C.8%
D.32%

Answer 1

the answer is 8%

Explanation:

i just took the test and got it right, hope this helps!

Answer 2

8%

Explanation: