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The APR for a payday loan is quoted at 37% if the inflation rate is 3%,and the defaultprem is 20%. what is the real rate?

The APR for a payday loan is quoted at 37% if the inflation rate is 3%,and the defaultprem is 20%. what is the real rate? what is the effective annual rate, EAR, if paym be made every 2 weeks? 2. ent is expected to

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