What is the effective annual return friendlys earns on this, Financial Management

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What is the effective annual return friendlys earns on this

Friendly’s Quick Loans, Inc., offers you $6.75 today but you must repay $8.75 when you get your paycheck in one week (or else).

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

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

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Financial Management: What is the effective annual return friendlys earns on this

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Financial Management: What is the effective annual return friendlys earns on this

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