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2. Fred took out an $500 dollar Payday loan and was charged $76 in interest when he repaid the loan 8 days later. Show your

2. Fred took out an $500 dollar Payday loan and was charged $76 in interest when he repaid the loan 8 days later. Show your work. a) What was the daily interest rate? a) I mark b) The annual interest rate? b) 1 mark Page 8 of 12

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