Assume a short-term cash lender is located in your neighborhood. Your friend Robert is short on cash this month and talks to the lender. The lender tells Robert that he can get a $120 loan for 5 days. Robert will get his pay check in 5 days and will be able to pay back the loan at that time: the $120 borrowed, plus a fee (interest) of $6, for a total of $126. Robert knows that 22.99% APR on credit cards is really high, so he is reluctant to use his credit card. What is the APR on the $120 from the short-term neighborhood lender? What is the APY on the same loan? Would your friend be better off using his credit card or taking the short-term loan?(Round answers to 0 decimal place, e.g. 52.)

APR on the $120 from the short-term neighborhood lender is

APY on the loan from short-term neighborhood lender is

The better option is using/taking