What interest rate is the bank required by law to report to
Barcain Credit Corp. wants to earn an effective annual return on its consumer loans of 11 percent per year. The bank uses daily compounding on its loans.
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What interest rate is the bank required by law to report to potential borrowers?
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1 an 11 year bond pays interest of 2890 semi annually has a face value of 1000 and is selling for 83470a the annual
barcain credit corp wants to earn an effective annual return on its consumer loans of 11 percent per year the bank uses
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