Zampa credit corp wants to earn an effective annual return


Zampa credit corp. wants to earn an effective annual return on its consumer loans of 10.5% per year. The bank uses daily compounding on its loans. What interest rate is the bank required by law to report to potential borrowers?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: Zampa credit corp wants to earn an effective annual return
Reference No:- TGS02293197

Expected delivery within 24 Hours