Question

In analyzing the chart, what is the relationship between fees and dollar advanced? What do you think that payday lenders base their fees on?

Answer 1

Fees are directly related with the dollars advanced. Meaning as the dollars advanced increases, fees also increases and same goes as the dollars advanced decreases, fees also decreases. And therefore, using this same concept, we can say that payday lenders based their fees on the amount of dollar advanced.

Answer 2

According to the given chart, The relationship between the fees and dollar advanced is that Fees are proportional to the amount of money borrowed.

What is fees?

Fees is defined as the amount of money that a person charges with the another person for the use of their services or any item, and the amount is based upon the agreement made between the parties.

As shown in the given graph, the amount of money advanced grows, so do the fees, and as the amount of money advanced grows, so do the fees.

Using the same logic, it can be said that payday lenders charge fees based on the quantity of money borrowed.

Therefore, The relationship between fees and dollars advanced, as seen in the graph, is that fees are proportional to the amount of money borrowed.

learn more about the graph, refer to:

https://brainly.com/question/16608196

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