scrapjones718 scrapjones718

08-02-2024
Mathematics

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I'm due a paycheck of $1,235.00 in 7 days. A payday lender has offered to advance me money against this paycheck, or, in other words, to make me a loan today which would be paid off by my paycheck. Their fee is 2.5%. What rate of simple discount would this amount to?

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