Question
Friendlys Quick Loans, Inc., offers you $8.00 today but you must repay $9.95 when you get your paycheck in one week (or else). What is
Friendlys Quick Loans, Inc., offers you $8.00 today but you must repay $9.95 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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The Oxford Handbook Of Computational Economics And Finance
Authors: Shu-Heng Chen, Mak Kaboudan, Ye-Rong Du
1st Edition
0199844372, 978-0199844371
