Question: 2 . ( 3 points ) Cost of a payday loan: Maggie went to a payday loan company and borrowed $ 4 0 0 until

2.(3 points) Cost of a payday loan: Maggie went to a payday loan company and borrowed $400 until her next paycheck in two weeks. Maggie agrees to pay $450 from her next paycheck and signs a contract outlining the requirements of the loan. Find the simple interest rate that she paid for the 2-week 2.(3 points) Cost of a payday loan: Maggie went to a payday loan company and borrowed $400 until her next paycheck in two weeks. Maggie agrees to pay $450 from her next paycheck and signs a contract outlining the requirements of the loan. Find the simple interest rate that she paid for the 2-week loan. Use time in years. There are 52 weeks in a year. Convert your answer to a percent!. Use time in years. There are 52 weeks in a year. Convert your answer to a percent!

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