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A payday loan is structured to obscure the true interest rate you are paying. For example, in Washington, you pay a $33e for a two

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A payday loan is structured to obscure the true interest rate you are paying. For example, in Washington, you pay a $33"e" for a two week $210 payday loan (when you repay the loan you pay $243). What is the effective annual interest rate for this loan? (Assume 26 bi-weekly periods per year) The effective annual interest rate is 204.23% (Round to two decimal places.)

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