Check my work 16 Payday loans are very short-term loans that charge very high interest rates. You can borrow $300 today and repay $36O in two weeks. What is the compounded annual rate implied by this 20 percent rate charged for only two weeks? (Hint: Compound the 2-week return 26 times for the annual return.) (Do not round intermediate calculations and round your final answer to the nearest whole percent.) 3.33 points Compounded annual rate Skipped ook Print References