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13.Payday loans are very short-term loans that charge very high interest rates. You can borrow $275 today and repay $330 in two weeks. What is

13.Payday loans are very short-term loans that charge very high interest rates. You can borrow $275 today and repay $330 in two weeks. What is the compounded annual rate implied by this 20 percent rate charged for only two weeks

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