Question
Lenny Loanshark charges 1.02 points per week (that is, 1.02% per week) on his loans. What APR must he report to consumers? Assume exactly 52
| Lenny Loanshark charges 1.02 points per week (that is, 1.02% per week) on his loans. What APR must he report to consumers? Assume exactly 52 weeks in a year. What is the effective annual rate? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) |
| Annual percentage rate | % |
| Effective annual rate | % |
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Handbook Of Business Valuation
Authors: Thomas L. West, Jeffrey D. Jones
2nd Edition
0471297879, 978-0471297871
