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A payday loan provides short-term loans ranging from $250 to $2,000. Assume the cost of the loan is $1.00 per day per $100 borrowed until

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A payday loan provides short-term loans ranging from $250 to $2,000. Assume the cost of the loan is $1.00 per day per $100 borrowed until the loan is repaid. What is the APR for a $300 payday loan that is repaid in five days? 1.67 X % Need Help? Read It

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