gracemwalter9917 gracemwalter9917
  • 22-02-2024
  • Business
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A payday loan company charges a $95 fee for a $700 payday loan that will be repaid in 16 days. Treating the fee as interest paid, what is the equivalent annual interest rate?
a) 192%
b) 264%
c) 312%
d) 336%

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