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Big Dom's Pawn Shop charges an interest rate of 21 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 21 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) 252.00% 246.96% 21.00% 239.40% 257.04% | |
| (b) | What is the effective annual rate? |
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Essentials Of Health Care Finance
Authors: William O. Cleverley
3rd Edition
0834203413, 978-0834203419
