4
AssignmentMultiple Choice

Consumer Responsibilities

Question 4 • OK-Personal Financial Literacy S1 – EDGNTY-83861 26-27

Verona goes to a business that offers tax refund anticipation loans because they really want to get their money right now and not wait. They calculate their refund to be $985 and the charge is $130 in fees for the loan. If the term on the loan is 15 days, what is the annual percentage rate on their loan?

Answer
A
130%
B
184%
C
317%
D
321%
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