What are the APR and EAR on this Payday loan?

Homework: Chapter 5 HW Save Score: 0 of 1 pt 17 of 17 (4 complete) HW Score: 23.53%, 4 of 17 pts Problem 5-50 (similar to) Question Help (Calculating an APR and EAR) You're in need of some money fast, and rather than ask your folks for help, you've decided to look into a payday loan. At a payday loan shop right near your school, you see that you can borrow $100 and repay $118 in 12 days. What are the APR and the EAR on this payday loan? a. What is the APR on this payday loan? % (Round to two decimal places.)