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3. Co-nvest , Incorporated, offers you $4.30 for $5.30 or I knock on your door. This means you get $4.30 today and repay $5.30 when
3. Co-nvest, Incorporated, offers you $4.30 for $5.30 or I knock on your door. This means you get $4.30 today and repay $5.30 when you get your paycheck in one week (or else).
a) If you were brave enough to ask, what APR would Co-nvests say you were paying?
b) Whats the effective annual return Co-nvests earns on this lending business?
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Understanding Housing Finance
Authors: Peter King
2nd Edition
0415432952, 978-0415432955
