Mathematics, 15.05.2021 09:30, janette32

Kaleb wants to get a payday loan in the amount of $400. He knows that the annual percentage rates (APR) for these types of loans are high, but he is hoping to find one that has an APR of 36%. If Kaleb finds a business that charges a fee of $45 for the loan, what would the term of the loan need to be in order for Kaleb to get his desired APR?

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Kaleb wants to get a payday loan in the amount of $400. He knows that the annual percentage rates (A...