Simone went to a payday loan shop for an advance on her $500 paycheck, to be repaid

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Simone went to a payday loan shop for an advance on her $500 paycheck, to be repaid in 7 days. The store will charge a fee of $105. What is the store's annualized return? Round to the nearest 0.01%, include the "%".

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Foundations Of Finance

ISBN: 9780134083285

9th Edition

Authors: Arthur J. Keown, John H. Martin, J. William Petty

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Posted Date: Apr 02, 2024 07:08 AM

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Simone went to a payday loan shop for an advance on her $500 paycheck, to be repaid

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To calculate the stores annualized return we need to determine the total fee ... View the full answer

Foundations Of Finance

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