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A payday lender offers 7 day loans at 4.3% discount interest per week. For example, if you borrow $100, you only receive $95.7 initially and

A payday lender offers 7 day loans at 4.3% discount interest per week. For example, if you borrow $100, you only receive $95.7 initially and must pay back $100 after 7 days. Part 1 Attempt 3/10 for 6 pts What is the effective annual rate on the loan

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