Question: Part B Question 3 Borrowing Model A payday lender charges $10 for a $259 loan for 7 to 14 days. What is the Annual Percentage

Part B Question 3 Borrowing Model A payday lender

Part B Question 3 Borrowing Model A payday lender charges $10 for a $259 loan for 7 to 14 days. What is the Annual Percentage Rate (APR) if the loan is for 14 days? (Assume 365 days per year, and answer in percentage)

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