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Wilma borrows $10,000 from Jaw Breaker Joe and promises to repay Joe a total of $10,500 in one month. What is the effective annual interest

Wilma borrows $10,000 from Jaw Breaker Joe and promises to repay Joe a total of $10,500 in one month. What is the effective annual interest rate charged by Joe?

A. 5.00%

B. 60.00%

C. 79.59%

D. 179.59%

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