Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 05, 2024

Find the effective rate for a payday loan which charges $11.82 for a two week loan of $100. percent. The effective rate of the loan

image text in transcribed

Find the effective rate for a payday loan which charges $11.82 for a two week loan of $100. percent. The effective rate of the loan is (Round to two decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Finance

Authors: Harvey Rosen, Ted Gayer

10th edition

9781259716874, 78021685, 1259716872, 978-0078021688

More Books

Students also viewed these Finance questions

Question

★★★★★

Ethers containing the 1,1-dimethylethyl (tert-butyl) group are readily cleaved with dilute, strong acid, as shown in the example below. Suggest a plausible mechanism for this process. What role might...

Answered: 1 week ago

Question

★★★★★

i need some help thank you Decision Tree Analysis Figure 2.12. Decision tree analysis. Your company needs to decide either to develop a new product with an investment of $400,000 or to upgrade an...

Answered: 1 week ago

Question

★★★★★

In which of the four types of culture (adaptability, achievement, clan, bureaucratic) might you expect to find the greatest emphasis on ethical issues? Why?

Answered: 1 week ago

Question

★★★★★

The 2015 income statement of Adrian Express reports sales of $15.2 million cost of goods sold of $10 million, and net income of $3.2 million. Balance sheet information is provided in the following...

Answered: 1 week ago

Question

★★★★★

Find the effective rate for a payday loan which charges $11.82 for a two week loan of $100. percent. The effective rate of the loan is (Round to two decimal places.)

Answered: 1 week ago

Question

★★★★★

Required Information [The following information applies to the questions displayed below.) Andrea would like to organize SHO as either an LLC (taxed as a sole proprietorship) or a C corporation. In...

Answered: 1 week ago

Question

★★★★★

What do you understand by functional group? Write the structural formula and name of three functional groups

Answered: 1 week ago

Question

★★★★★

Explain the mutual reaction between metals and non-metals with examples

Answered: 1 week ago

Question

★★★★★

Why do brass utensils and statues start shining when rubbed with a lemon?

Answered: 1 week ago

Question

★★★★★

Describe Balor method and give the chemical reaction.

Answered: 1 week ago

Question

★★★★★

How to prepare washing soda from common salt?

Answered: 1 week ago

Previous Question Next Question