Question
A payday loan is structured to obscure the true interest rate you are paying. For example, in Washington, you pay a $27 fee for a
A payday loan is structured to obscure the true interest rate you are paying. For example, in Washington, you pay a $27 "fee" for a $185 two-week payday loan (when you repay the loan, you pay $212 ). What is the effective annual interest rate for this loan?(Assume 26 bi-weekly periods per year.) The effective annual interest rate is_____%.
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Valuing Agile The Financial Management Of Agile Projects
Authors: Alan Moran
1st Edition
0117082880, 9780117082885
