Question
The APY of a loan is 122%. The loan is compounded weekly. What is the APR of this loan? A payday loan offers the following
The APY of a loan is 122%. The loan is compounded weekly. What is the APR of this loan?
A payday loan offers the following great terms: Write them a check for $250, and they will give you $200 today. They promise to hold the check for two weeks before depositing it. What is the APR of this loan?
What is the APY of the payday loan discussed in Problem above?
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Guide To Finance Theory And Application Portfolio Mathematics
Authors: Professional Risk Managers' International Association (PRMIA)
1st Edition
0071731814
