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If you go to a Pay-Day loan office and borrow $1,000 on Wednesday, to be paid back 3 days later on Friday. If they charge

If you go to a Pay-Day loan office and borrow $1,000 on Wednesday, to be paid back 3 days later on Friday. If they charge you 8% or $80. What is the total interest percentage they are charging?

If for some reason you could not pay the loan back for one month or 30 days, how much interest will be owed at that time?

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