Question
Magnus Credit Corp. wants to earn an effective annual return on its consumer loans of 17.5 percent per year. The bank uses daily compounding on
Magnus Credit Corp. wants to earn an effective annual return on its consumer loans of 17.5 percent per year. The bank uses daily compounding on its loans.
| Required: |
| What interest rate is the bank required by law to report to potential borrowers? |
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Business Analysis And Valuation Using Financial Statements Text And Cases
Authors: Krishna G. Palepu, Paul M. Healy, Victor L Bernard
3rd Edition
0324118945, 9780324118940
