You're in need of some money fast, and rather than ask your folks for help, you've decided
Question:
You're in need of some money fast, and rather than ask your folks for help, you've decided to look into a payday loan. At a payday loan shop right near your school you see that you can borrow $100 and repay $115 in 10 days. What are the APR and the EAR on this payday loan?
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APR interest rate for 10 ...View the full answer
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Related Book For 
Foundations Of Finance
ISBN: 9780134083285
9th Edition
Authors: Arthur J. Keown, John H. Martin, J. William Petty
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