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Elaine lives in Kentucky and needs to borrow money fast, so she decides to get a payday loan. She wants to borrow $300 and will

Elaine lives in Kentucky and needs to borrow money fast, so she decides to get a payday loan. She wants to borrow $300 and will repay the loan back in 14 days. The fee for the loan is $45.00. What would Elaines rate be (rounded up)? Select the closest answer.

391.65%

500.00%

350.90%

404.17%

None of the above

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