Question
Payday loans are very short-term loans that charge very high-interest rates. You can borrow $550 today and repay $675 in two weeks. What is the
Payday loans are very short-term loans that charge very high-interest rates. You can borrow $550 today and repay $675 in two weeks. What is the effective annual rate of this payday loan?
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Contemporary Business Mathematics With Canadian Applications
Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
12th Edition
0135285011, 978-0135285015
