Many tax preparation firms offer their clients a refund anticipation loan (RAL). For a feo, the firm will give RAL Amount Courses a client his refund when the return is filed. The loan is repaid when the Internal Revenue Service sends the refund directly to the firm Thus, the RAL fee is equivalent to the interest charge for a loan. The $0-$500 schedule in the table on the right is from a major RAL lender. Use this schedule to find the annual rate of $501 - $1,000 arse Home interest for a $2,689 RAL, which is paid back in 24 days. $1,000 - $1,500 $1,501 - $2,000 gnments $2,001 - $5,000 (Assume a 360-day year.) dy Plan RAL Fee $29.00 $39.00 $49.00 $69.00 $89.00 What is the annual rate of interest for this loan? bidebook (Round to three decimal places) ext