Charley had a medical emergency and went to a payday loan, Microeconomics

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Charley had a medical emergency and went to a payday loan

Question: Charley had a medical emergency and went to a payday loan business to get a loan of $226. Charley paid the loan off one month later with a payment of $290. What was the nominal annual interest rate for the loan? Round your answer to two decimal places.

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