Question: You write a check today for $120 payable to the payday loan company, but post-dated for 21 days in the future. In return you get

You write a check today for $120 payable to the payday

You write a check today for $120 payable to the payday loan company, but post-dated for 21 days in the future. In return you get $100 cash today. What is the annual effective interest rate you pay on this payday loan? O A 20% O B. 348% O C. 2249% O D. 2278%

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