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A person borrows $340 from a payday loan company, paying $26 interest for two weeks. This would result in an annual interest rate of approximately

A person borrows $340 from a payday loan company, paying $26 interest for two weeks. This would result in an annual interest rate of approximately ___ percent. Ignore interest rate compounding. (Round your answer to 2 decimal places.)

61.18

397.65

30.59

198.82

7.65

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