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Anwar is charged 0.5% interest when she borrows $1000 for one week. What is the annual percentage interest rate (APR) on the loan? 1. 65%

Anwar is charged 0.5% interest when she borrows $1000 for one week. What is the annual percentage interest rate (APR) on the loan?

1. 65%

2. 52%

3. 26%

4. 13%

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