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The bank charges $15 for every $100 borrowed and must be repaid in three weeks. If you cannot repay this loan, it will roll over

The bank charges $15 for every $100 borrowed and must be repaid in three weeks. If you cannot repay this loan, it will roll over to a new payday loan with another charge.

There are 52 weeks in each year. You plan to borrow $400.

APR =

EAR =

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