Business, 27.06.2020 21:01 mikeymanfs

Problem 5-32 Compound Frequency (LG5-7) Payday loans are very short-term loans that charge very high interest rates. You can borrow $400 today and repay $468 in two weeks. What is the compounded annual rate implied by this 17 percent rate charged for only two weeks

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Problem 5-32 Compound Frequency (LG5-7) Payday loans are very short-term loans that charge very high...

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