A lender offers seven day loans at 236% APR compounded daily. Furthermore, if you wish...
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A lender offers seven day loans at 236% APR compounded daily. Furthermore, if you wish to roll-over your debt without repayment you may do so paying an additional 17% effective weekly rate. This amount would be on top of the agreed loan rate. If you were to borrow $6743.57 and held it for 18 months without ever paying the principal, what would your balance owing be?
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