Whats the effective annual return friendlys earns on this, Financial Management

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Whats the effective annual return friendlys earns on this

Friendly’s Quick Loans, Inc., offers you “$4.30 for $5.30 or I knock on your door.” This means you get $4.30 today and repay $5.30 when you get your paycheck in one week (or else).

If you were brave enough to ask, what APR would Friendly’s say you were paying?

What’s the effective annual return Friendly’s earns on this lending business?

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Financial Management: Whats the effective annual return friendlys earns on this

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Financial Management: Whats the effective annual return friendlys earns on this

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