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Friendlys quick loans inc offers you 825 today but you must

Friendly's Quick Loans, Inc., offers you $8.25 today but you must repay $10.45 when you get your paycheck in one week (or else).

a.) What is the effective annual return Friendly's earns on this lending business?

b.) If you were brave enough to ask, what APR would Friendly's say you were paying?

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Finance Basics: Friendlys quick loans inc offers you 825 today but you must

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Request for Solution File

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Finance Basics: Friendlys quick loans inc offers you 825 today but you must

Reference No:- TGS0610549

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Recent Questions Asked Finance Basics

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Finance Basics: Friendlys quick loans inc offers you 825 today but you must

Reference No:- TGS0610549

Recent Questions Asked Finance Basics

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