FIN 341 Fall 2021 Principles of Finance Question 5, P 5-11 (simil... > HW Score: 2.86%, 1 of 35 points O Points: 0 of 1 Save C rt A payday loan is structured to obscure the true interest rate you are paying. For example, in Washington, you pay a $33 "fee" for a two-week $205 payday loan (when you repay the loan, you pay $238). What is the effective annual interest rate for this loan? (Assume 26 bi-weekly periods per year.) The effective annual interest rate is %. (Round to two decimal places.) Siv 12 Ef r = n As In 2 ti He