Solved: What is the percent of interest paid on this loan, Microeconomics

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What is the percent of interest paid on this loan

Problem

Lane French had a bad credit rating and went to a local cash center. He took out a $100.00 loan payable in two weeks at $113.50. What is the percent of interest paid on this loan?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What is the percent of interest paid on this loan

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