Homework: Chapter 5 HW Save Score: 0 of 1 pt 17 of 17 (15 complete) HW Score: 76.47%, 13 of 17 pts Problem 5-50 (similar to) Question Help (Calculating an APR and EAR) You're in need of some money fast and rather than ask your folk for help, you've decided to look into a payday loan. At a payday loan shop night near your school, you see that you can borrow $100 and repay $118 in 12 days What are the APR and the EAR on this payday loan? a. What is the APR on this payday loan? E (Round to two decimal places)