Question
A pawn shop charges 25% periodic interest return on loans compounded monthly. You want to know what the actualannualized rate is after considering compounding so
A pawn shop charges 25% periodic interest return on loans compounded monthly. You want to know what the actualannualized rate is after considering compounding so that you can compare it to a bank loan rate. Compute the applicable pawn shop interest rate.
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Basic Finance An Introduction To Financial Institutions, Investments, And Management
Authors: Herbert B. Mayo
12th Edition
1337691011, 978-1337691017
