Question
You are quoted an APR of 15.5% that is compounded every day from a local loan shark. The payments on the loan are due every
You are quoted an APR of 15.5% that is compounded every day from a local loan shark. The payments on the loan are due every week and this quote is intendedto confuse the local loan shark's customers. What rate would you actually use for your payments?
-0.168%
-0.527%
-0.042%
0.298%
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Fundamentals Of Financial Management
Authors: James Van Horne, John Wachowicz
13th Revised Edition
978-0273713630, 273713639
