Question
If You-Will-Never-Pay-It-Off Loan Company lends you $50 on Monday, and you have to pay $60 after a week, what nominal rate of interest (APR) are
If You-Will-Never-Pay-It-Off Loan Company lends you $50 on Monday, and you have to pay $60 after a week, what nominal rate of interest (APR) are they charging?
| 625% | ||
| 940% | ||
| 1,040% | ||
| 1,240% |
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Quantitative Analysis for Management
Authors: Barry Render, Ralph M. Stair, Michael E. Hanna, Trevor S. Ha
12th edition
133507335, 978-0133507331
