document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1174311>Question 1174311</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A payday loan company charges a $80 fee for a $550 payday loan that will be repaid in 11 days.\r<BR>\n" );
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document.write( "Treating the fee as interest paid, what is the equivalent annual interest rate?\r<BR>\n" );
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document.write( "           % interest Round to the nearest percent. This will be over 100% </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #799798 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=799798\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A payday loan company charges a $80 fee for a $550 payday loan that will be repaid in 11 days.<BR>\n" );
document.write( "Treating the fee as interest paid, what is the equivalent annual interest rate?<BR>\n" );
document.write( "% interest Round to the nearest percent. This will be over 100%<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=365%2F11 ALIGN=MIDDLE  ALT=\"365%2F11\"   DISABLED_style= \"max-width:90%; height:auto;\" > * 80 = $2654.55 annual interest<BR>\n" );
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document.write( "Interest = principal * rate<BR>\n" );
document.write( "2654.55 = 550 * r<BR>\n" );
document.write( "r = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2654.55%2F550 ALIGN=MIDDLE  ALT=\"2654.55%2F550\"   DISABLED_style= \"max-width:90%; height:auto;\" > * 100 <BR>\n" );
document.write( "r = 483% annual interest rate. What a rip-off!! </SPAN>\n" );
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