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A payday loan company charges a $70 fee for a $500 payday loan that will be repaid in 18 days. Treating the fee as interest

A payday loan company charges a $70 fee for a $500 payday loan that will be repaid in 18 days. Treating the fee as interest paid, what is the equivalent annual interest rate? % interest Round to the nearest percent. This may be over 100%

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