Question
A financial institution makes small loans to students. For example, it offers $ 500 for 16 weeks with $ 528.36 to be repaid at the
A financial institution makes small loans to students. For example, it offers $ 500 for 16 weeks
with $ 528.36 to be repaid at the end of this period. What is the financial institution's effective
annual interest rate?
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Microeconomics: An Intuitive Approach With Calculus
Authors: Thomas Nechyba
2nd Edition
1305650468, 978-1305650466
