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Elliott Credit Corp. wants to earn an effective annual return on its consumer loans of 12 percent per year. The bank uses daily compounding on
Elliott Credit Corp. wants to earn an effective annual return on its consumer loans of 12 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? Multiple Choice 10.20% 12.47% 11.33% 12.00%
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Financial Sector Reform And Privatization In Transition Economies
Authors: John Doukas, Victor Murinde, Clas Wihlborg
1st Edition
044482653X, 9780444826534
