7
QuizMultiple Choice

Understanding College Savings — Unit test

Question 7 • SHS Lifetime Fitness - 2021

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

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