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  3. a payday loan company charges a $50 fee for a $600

A payday loan company charges a $50 fee for a $600 payday loan that will...

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Basic Math

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A payday loan company charges a $50 fee for a $600 payday loan that will be repaid in 11 days. Treating the fee as interest paid, what is the equivalent annual interest rate?[?] % interest

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