A payday loan company charges 5 percent interest for a two-week period. What would be the annual interest rate from that company? (Assume an even 52 weeks per year. Enter your answer as a whole percent.)
A payday loan company charges 5 percent interest for a two-week period. What would be the annual interest rate from that company? (Assume an even 52 weeks per year. Enter your answer as a whole percent.)
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 10P
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A payday loan company charges 5 percent interest for a two-week period. What would be the annual interest rate from that company? (Assume an even 52 weeks per year. Enter your answer as a whole percent.)
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