Belinda needs $2400 fast. She has the option of borrowing the $2400 for 5 days at an APR of 500% or borrowing the $2400 for 5 days with a fee of $180. She realizes that neither scenario is very good, but she wants to choose the option that is best for her. Help Belinda decide which is the "better" deal. Part I: What is the length of the period of the $2400 loan for 5 days for a fee of $180?

Part II: What is the number of periods for 1 year?

Part III: What is the periodic interest rate of the $2400 loan for 5 days for a fee of $180?

Part IV: What is the APR of the $2400 loan for 5 days for a fee of $180?