Ricky Ripov's Pawn Shop charges an interest rate of 17 percent per month on loans to its

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Ricky Ripov's Pawn Shop charges an interest rate of 17 percent per month on loans to its customers. Like all lenders, Ricky must report an APR to consumers. What rate should the shop report? What is the effective annual rate?

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Essentials of Corporate Finance

ISBN: 978-0078034756

8th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Feb 23, 2017 02:03 AM

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