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Question: janet took a 3000 loan from an online lending platform...

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Janet took a $3000 loan from an online lending platform. The platform charges a "processing fee" of $400 and only pays Janet $2600 right now. Janet needs to pay back the $3000 debt in 3 monthly installments (equal amount). What is the implied interest rate (in terms of APR) for this loan?
A. 238%
B. 90%
C. 78%
D. 214%

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