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Stacy is in a similar situation to Cecy, but she lives in a state where interest rates are capped. In her state, payday loans cannot
Stacy is in a similar situation to Cecy, but she lives in a state where interest rates are capped. In her state, payday loans cannot have above a 82\% APR. Stacy takes out a loan with WE HAVE THE MONEY YOU NEED: LENDING for $404 at the state enforced APR cap. The money is due in 2 weeks along with a fee. What is the value of that fee? (Hint: To calculate with percentages, they need to be in decimal form) Note: Please enter your answer without a "\$" symbol. Round to the nearest hundredth (or cent)
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