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After a weekend of lucrative gigs, a singer finds herself with an extra $ 1,500. She...

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Basic Math

After a weekend of lucrative gigs, a singer finds herself withan extra $ 1,500. She currently has $4350 of credit card debt, onwhich she is charged an annual yield of 24%. Putting $1,500 towardthis would cut that debt to $1,850. Calculate the annual rate ofreturn if she does this. Round, if necessary, to the nearest0.1%.

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Note 1 Annual yield generally refers to the rate paid to a depositor by a financial institution But the given annual yield is not used like that The term is not generally    See Answer
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