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# Mathematics (With steps)

Jack borrows $1000. He only got $900, and he has to repay $1300 in two weeks. If no money is repaid after two weeks. $1300 will be taken as the interest will be calcuted at the same interest rate. (Assuming there are 52 weeks in a year)

a) Find the yearly interest rate for the first two weeks.

b) If no money is repaid for the first 2 weeks, find the total interest after the first 4 weeks.

### 1 Answer

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- 1 decade agoFavorite Answer
a.

principal * rate = interest

rate = 400 / 900

= 44.44% (per 2 weeks)

yearly interest rate = 44.44% * 26

= 1155.56%

b.

total interest for the first 2 weeks = $400

total interest for the next 2 weeks = 1300 * 44.44%

= $577.72

therefore total interest = 400 + 577.72

= $977.72

這說明了我們不要隨便借「九出十三歸」的大耳濃

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