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17 01:11:46 Payday loans are very short-term loans that charge very high Interest rates. You can borrow $600 today and repay $675 in two weeks.

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17 01:11:46 Payday loans are very short-term loans that charge very high Interest rates. You can borrow $600 today and repay $675 in two weeks. What is the compound annual rate implied by this 12.5 percent rate charged for only two weeks? Multiple Choice 12.89 percent 13.28 percent 203779 percent 113.28 percent

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