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Friendly's Quick Loans offers you 'two for four or I knock on your door.' This means you get 2 today and repay 4 when you
| Friendly's Quick Loans offers you 'two for four or I knock on your door.' This means you get 2 today and repay 4 when you get your wages in one week (or else). |
| Requirement 1: | |
| What's the effective annual return Friendlys earns on this lending business? (Do not round intermediate steps. Enter your answer in thousands.) | |
| Effective annual return | % |
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Principles Of Investments
Authors: Alan Marcus, Zvi Bodie, Michael Drew, Anup Basu, Alex Kane
1st Edition
0071012389, 978-0071012386
