Question
You need to borrow $2,000 quickly, and the local pawn shop will give it to you if you promise to repay them $200.92 monthly over
You need to borrow $2,000 quickly, and the local pawn shop will give it to you if you promise to repay them $200.92 monthly over the next year.
From the pawn shop's viewpoint, what is the IRR of this transaction?
1.0% per month
O 1.7% per month
O 2.0% per month
2.5% per month
3.0% per month
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Financial Accounting A Management Perspective
Authors: Nelson Macwan
1st Edition
6206142191, 978-6206142195
