Question
Big Dom's Pawn Shop charges an interest rate of 17 percent per month on loans to its customers. Like all lenders, Big Dom must report
Big Dom's Pawn Shop charges an interest rate of 17 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers. Required : (a) What rate should the shop report? (Click to select)208.08%17.00%199.92%193.80%204.00% (b) What is the effective annual rate?
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Introductory Econometrics For Finance
Authors: Chris Brooks
2nd Edition
052169468X, 9780521694681
