We divide 365 days by 14 days to get 26. 0714. We then multiply this by the interest rate for two weeks of 23 to get a simple annual percentage rate of 599.
64 percent. Lets see another example: Lets say you were borrowing 200 with a cost of borrowing of forty-four dollars and youre only borrowing for 10 days. The rate for the period is forty-four dollars divided by two hundred dollars or 22-percent. The period is 10 days.
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