Aradio commercial for a loan company states: " you only pay $0.28 a day for each $500 borrowed." if you borrow $2,366 for 243 days, what amount will you repay, and what annual interest rate is the company actually charging? ( assume a 360 day year)

take the logarithm of both sides (the base of the log doesn't matter):

apply the exponent property - this says that :

distribute the log terms on both sides:

group like terms together:

divide through both sides by the coefficient on :

you can do some additional rewriting here using the properties of the logarithm to simplify things if you like:

the answer is -1 for this question

step-by-step explanation:

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