Magnus credit corp wants to earn an effective annual return
Magnus Credit Corp. wants to earn an effective annual return on its consumer loans of 15.5 percent per year. The bank uses daily compounding on its loans.
Required:
What interest rate is the bank required by law to report to potential borrowers?
Expected delivery within 24 Hours
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magnus credit corp wants to earn an effective annual return on its consumer loans of 155 percent per year the bank uses
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