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4-Payday loans are very short-term loans that charge very high interest rates. You can borrow $250 today and repay $300 in two weeks. What is

4-Payday loans are very short-term loans that charge very high interest rates. You can borrow $250 today and repay $300 in two weeks. What is the compounded annual rate implied by this 20 percent rate charged for only two weeks? The answer--+

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