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Janet took a $3000 loan from an online lending platform. The platform charges a processing fee of $400 and only pays Janet $2600 right now.

Janet took a $3000 loan from an online lending platform. The platform charges a "processing fee" of $400 and only pays Janet $2600 right now. Janet needs to pay back the $3000 debt in 3 monthly installments equal amount). What is the implied interest rate (in terms of APR) for this loan? A. 238% B. 90% C. 78% D. 214%

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