Payday loans are very short$-$term loans that charge very high interest rates. You can borrow $$200$ today and repay $$260$ in two weeks. What is the compounded annul rate implied by this $30$ percent rate charged for only two weeks? $($Hint: Compound the $2-$week return $26$ times for the annual return.$)$

Compounded annual rate

$2$ of $6$ :

Next $>$

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