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Lane French had a bad credit rating and went to a local cash center. He took out a $111 loan payable in five weeks at $131.

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    What is your question?

  • math -

    Cash Centres, the worst of all rip-off places

    interest = 131-111 = 20
    principal = 111
    time = 5/52

    rate = interest/(principal x time)
    = 20/(111(5/52) ) = 1.874
    or 187.4% interest per year

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