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A particular payday loan company offers quick short term loans using the borrowers future paychecks as collateral. The loan company charges 1 8 for each

A particular payday loan company offers quick short term loans using the borrowers future paychecks as collateral. The loan company charges

18

for each $

130

for a term lf

13

days. Fona the APR charged by the payday loan company.

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