if a person has to pay $30 a year in interest on each $100 he borrows, the cost is considered\n○ very…

if a person has to pay $30 a year in interest on each $100 he borrows, the cost is considered\n○ very high\n○ very low\n○ average\n○ slightly better than the average.

if a person has to pay $30 a year in interest on each $100 he borrows, the cost is considered\n○ very high\n○ very low\n○ average\n○ slightly better than the average.

Answer

Brief Explanations:

The interest rate is calculated as $\frac{30}{100}\times100% = 30%$ per - year. In general, interest rates above 10 - 15% are considered high. A 30% annual interest rate is extremely high.

Answer:

very high