Vandermark Credit Corp. wants to earn an effective annual return on its consumer loans of 14.2 percent per year. The bank uses daily compounding on
Vandermark Credit Corp. wants to earn an effective annual return on its consumer loans of 14.2 percent per year. The bank uses daily compounding on its loans. What interest rate is the bank required by law to report to potential borrowers?
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Authors: George H. Pink, Paula H. Song
8th Edition
1640551093, 978-1640551091
