Ricky ripovs pawn shop charges an interest rate of 1825
Ricky Ripov’s Pawn Shop charges an interest rate of 18.25 percent per month on loans to its customers. Like all lenders, Ricky must report an APR to consumers.
What rate should the shop report? APR=%
What is the effective annual rate? EAR=%
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ricky ripovrsquos pawn shop charges an interest rate of 1825 percent per month on loans to its customers like all
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yoursquove observed the following returns on barnett corporationrsquos stock over the past five years ndash255 percent
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