Calculating EAR Friendlys Quick Loans offers you two for four or I knock on your door. This
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Calculating EAR Friendly’s Quick Loans offers you
‘two for four or I knock on your door’. This means you get £2 today and repay £4 when you get your wages in 1 week (or else). What’s the effective annual return Friendly’s earns on this lending business? If you were brave enough to ask, what quoted rate would Friendly’s say you were paying?
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Hassan Ali
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780077178239
3rd Edition
Authors: David Hillier, Iain Clacher, Stephen A. Ross
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