Question
Big Dom's Pawn Shop charges an interest rate of 26.9 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 26.9 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consuders.
What rate should the shop report?
APR_______
What is the effective annual rate
EAR____
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International Finance Transactions Policy And Regulation
Authors: Hal Scott, Anna Gelpern
21st Edition
1634602048, 978-1634602044
