Antonio had unexpected expenses this month and didn't have enough in his saving account to pay the rent of $900. He went to Ace Cash Express to borrow the money until his next paycheck 14 days from now. Antonio charges $100 interest for the 7 days. What is the APR for this payday loan ?

Answer rating: 100% (QA)

To calculate the Annual Percentage Rate APR for the payday loan we need to determine th... View the full answer