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A Person Borrows $200 from a Payday Loan Company,and Pays

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A person borrows $200 from a payday loan company,and pays $10 interest for two weeks.This would result in an annual interest rate of approximately ___ percent.Ignore compounding.


Definitions:

Ethnocentric Perspective

Viewing the world and making judgments about other cultures based on the standards and values of one's own culture, often leading to cultural bias.

Holistic Perspective

An approach that considers a whole system, including all of its components and their interactions, rather than focusing on its parts separately.

Holistic Anthropological Perspective

An approach in anthropology that considers the totality of human life, culture, and society in understanding individuals and communities.

Biological And Cultural Homologies

Similarities in biological structures or cultural practices that are inherited from a common ancestor.

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