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16 December, 10:48

Which will have a higher effective interest rate a payday loan for $1700 that is due in 16 days with a fee of $100, or a payday loan for $1700 that is due in 14 days with a fee of $100

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  1. 16 December, 10:49
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    1700 that is due in 14 days with a fee of 100$ because it’s a shorter time period
  2. 16 December, 10:57
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    A payday loan for $1700 that is due in 14 days with a fee of $100, since it has the shorter period. (Apex)
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