Ricky ripovs pawn shop charges an interest rate of 14.25 % per month on loans to its customers like all lenders Ricky must report an arp to consumers what rate should the shop report

Question 10 (of 14) value: 1.42 points nth on loans to its customers. Like all lenders, Ricky must report an What rate should the shop report? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal pl Annual percentage rate 171 % What is the effective annual rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal pl Effective annual rate References eBook & Resources Learning Objective 05-04 Explain how interest rates are quoted (and misquoted) Worksheet Difficulty: 1 Basic Section 5 3 Comparing Rates The Effect ype here to search