If a person borrows $450 at the beginning of the month and promises to pay back $543.75 on payday at the end of the month, what is their monthly interest rate? what is the associated apr of this payday loan?

%40

step-by-step explanation:

for this case we have by definition, if two lines are perpendicular, then the product of their slopes is -1.

then, given the following line:

so,

we are looking for m_ {2}:

then, the line is given by:

we find "b" replacing the given point:

finally, the equation is:

option c

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of

lol 2

step-by-step explanation: