Payton needs money today, so he decides to take out a loan for $511 with a payday
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Payton needs money today, so he decides to take out a loan for $511 with a payday lender. The lender expects the money back in 3 weeks with a fee of $61. What is the APR of this loan? Please assume there are 52 weeks in a year.
Related Book For
Management A Practical Introduction
ISBN: 978-0078112713
5th edition
Authors: Angelo Kinicki, Brian Williams
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