Business, 26.02.2020 22:26 zazzles88151

Payday loans are very short-term loans that charge very high interest rates. You can borrow $200 today and repay $250 in two weeks. What is the compound annual rate implied by this 25 percent rate charged for only two weeks?

32,987.22 percent

30.00 percent

128.25 percent

26.60 percent

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Payday loans are very short-term loans that charge very high interest rates. You can borrow $200 tod...

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