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5 January, 11:14

Myrtle needs to borrow $200 and is hoping to get a payday loan with an annual percentage rate (apr) of less than 50%. if a company charges her $30 in fees for the loan, what is the minimum loan term needed that would give myrtle her desired apr?

a. 90 days

b. 100 days

c. 110 days

d. 120 days

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Answers (1)
  1. 5 January, 12:51
    0
    B. 110 days. Just took test.
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