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Calculating APR Vandermark Credit Corp. wants to earn an effective annual return on its consumer loans of 1 3 . 9 percent per year. The
Calculating APR Vandermark Credit Corp. wants to earn an effective annual return on its consumer loans of 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? Explain why this rate is misleading to an uninformed borrower.
Calculating APR Vandermark Credit Corp. wants to earn an effective
annual return on its consumer loans of 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? Explain why this rate is misleading to
an uninformed borrower.
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