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Business, 10.11.2019 04:31 vintageandre

Payday loans are very short-term loans that charge very high interest rates. you can borrow $400 today and repay $476 in two weeks. what is the compounded annual rate implied by this 19 percent rate charged for only two weeks? (hint: compound the 2-week return 26 times for the annual return.) (do not round intermediate calculations and round your final answer to 2 decimal

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