Question
A check-cashing store is in the business of making personal loan to walk-upcustomers. The store makes only one-week loans at 7.5 percent interest per week.What
A check-cashing store is in the business of making personal loan to walk-upcustomers. The store makes only one-week loans at 7.5 percent interest per week.What APR must the store report to its customer? What EAR are customers actuallypaying.
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Financial Management
Authors: Rob Quail, Ricardo J. Rodriguez
2nd Edition
1557868441, 9781557868442
