Friendlys Quick Loans, Inc., offers you Six for four, or I knock on your door. This means
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Friendly’s Quick Loans, Inc., offers you “Six for four, or I knock on your door.” This means you get $4 today and repay $6 when you get your paycheck in one week (or else). What’s the effective annual return Friendly’s earns on this lending business? If you were brave enough to ask, what APR would Friendly’s say you were paying?
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Related Book For 
Essentials Of Corporate Finance
ISBN: 9780073382463
7th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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