Question
Barcain Credit Corp wants to earn an effective annual return on its consumer loans of 14 percent per year. The bank uses daily compounding on
Barcain Credit Corp wants to earn an effective annual return on its consumer loans of 14 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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Essentials Of Managerial Finance
Authors: Scott Besley, Eugene F. Brigham
12th Edition
0030258723, 9780030258725
