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Big Shows Pawn Shop charges an interest rate of 28.9% per month on loans to its customers. Like all lenders, Big Show must report an
Big Shows Pawn Shop charges an interest rate of 28.9% per month on loans to its customers. Like all lenders, Big Show must report an APR to consumers.
What rate should the shop report? (Round the final answer to 1 decimal places.)
APR
%
What is the effective annual rate? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)
EAR
%
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Handbook Of Experimental Finance
Authors: Sascha Füllbrunn, Ernan Haruvy
1st Edition
1800372329, 978-1800372320
