Question
5. Vandermark Credit Corp. wants to earn an effective annual return on its consumer loans of 14.25 percent per year. The bank uses daily compounding
5. Vandermark Credit Corp. wants to earn an effective annual return on its consumer loans of 14.25 percent per year. The bank uses daily compounding on its loans.
What interest rate is the bank required by law to report to potential borrowers?
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International Finance For Non Financial Managers
Authors: Dora Hancock
1st Edition
0749480017, 9780749480011
