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Whats the effective annual return friendlys earns on this

Friendly's Quick Loans, Inc., offers you "Five for four, or I knock on your door." This means you get $4 today and repay $5 when you get your paycheck in one week (or else). What's the effective annual return Friendly's earns on this lending business? If you were brave enough to ask, what APR would Friendly's say you were paying?

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Finance Basics: Whats the effective annual return friendlys earns on this

Reference No:- TGS02631269

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