Friendly's Quick Loans, Inc., offers you $5.75 today but you mustrepay $6.75 when you get your paycheck in one week (or else).

What is the effective annual return Friendly's earns on this lending business?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Effective annual return______? Please list the steps in how you found this answer. I found the APR at 904.28% but cannot find the EAR.