Finance charges on a payday loan may not exceed 16.7% of the amount advanced. Find the annual interest rate if $300 is borrowed for 10 days at the maximum allowable charge. The annual interest rate is...

Finance charges on a payday loan may not exceed 16.7% of the amount advanced. Find the annual interest rate if $300 is borrowed for 10 days at the maximum allowable charge.

The annual interest rate is ___ % (round to the nearest percent)

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