Question
Elmer received a $25,000 loan from a loan shark. The loan required him to make payments of $400 per week (52 weeks per year) for
Elmer received a $25,000 loan from a loan shark. The loan required him to make payments of $400 per week (52 weeks per year) for three years. What annual rate (APR) and effective annual rate (EAR) did the loan charge?
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Project Finance In Theory And Practice Designing Structuring And Financing Private And Public Projects
Authors: Stefano Gatti
4th Edition
032398360X, 9780323983600
