Question: Tim is expecting a $934 paycheck in 4 days. A payday lender offers to give him cash now for this check. The lender's fee is

Tim is expecting a $934 paycheck in 4 days. A payday lender offers to give him cash now for this check. The lender's fee is 2.5% of the amount of the paycheck, plus a $5 service fee. What is the simple discount rate? Group of answer choices 28.35% 5.26% 2.77% 255.89% 276.97%

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