Homework: Ch5 Homework Save O Score: 0 of 1 pt 3 of 9 (2 complete) HW Score: 22.22%, 2 of 9 pts P 5-11 (similar to) Question Help A payday loan is structured to obscure the true interest rate you are paying For example, in Washington, you pay a $28 "fee" for a two-week $205 payday loan (when you repay the loan, you pay $233). 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) pp Priva Ne Ted ? and Privacy Enter your answer in the answer box and then click Check Answer Check Answe Clear A All parts showing Desktop SS earch