Question: Compound Frequency Payday loans are very short - term loans that charge very high interest rates . You can borrow $ 2.100 today and repay

Compound Frequency Payday loans are very short - term loans that charge very high interest rates . You can borrow $ 2.100 today and repay 52.457 in two weeks . What is the compound annual rate implied by this 17 percent rate charged for only two weeks?

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