Question: Friendly's Quick Loans, Inc., offers you three for four or I knock on your door. This means you get $ 3 today and repay $

Friendly's Quick Loans, Inc., offers you "three for four or I knock on your door." This means you get $

3

today and repay $

4

when you get your paycheck in one week

(

or else

) .

What's the effective annual return Friendly's earns on this lending business? If you were brave enough to ask, what APR would Friendly's say you were paying?

Input area:

\

table

[[

Present value,$

3

Friendly's Quick Loans, Inc., offers you "three for four or I

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