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PLEASE SHOW CALCULATION PROCESS ( not excel) 3. Fred ran short on cash and borrowed $300 through a Payday Loan company. The company charged him

PLEASE SHOW CALCULATION PROCESS ( not excel)

3. Fred ran short on cash and borrowed $300 through a Payday Loan company. The company charged him a fee of $60 to borrow the $300 for 14 days. Using the simple interest method calculate what interest rate was Fred charged for the loan

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