Business, 24.11.2020 17:50 broomssymphonie
You can borrow $200 today and repay $215 in one week. What is the effective annual rate (EAR) implied by this 7.5 percent rate charged for only one week?
a. 45,602%
b. 4,198%
c. 14,104%
d. None of these are correct.
e. 1,164%
Answers: 1
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You can borrow $200 today and repay $215 in one week. What is the effective annual rate (EAR) implie...
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