Question
Friendlys Quick Loans, Inc., offers you $7.50 today but you must repay $9.35 when you get your paycheck in one week (or else). What is
| Friendlys Quick Loans, Inc., offers you $7.50 today but you must repay $9.35 when you get your paycheck in one week (or else). What is the effective annual return Friendlys earns on this lending business? If you were brave enough to ask, what APR would Friendlys say you were paying? |
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Financial Management Theory And Practice
Authors: Prasanna Chandra
11th Edition
9355322208, 978-9355322203
