In 'N Out Payday Loans advertises that for a fee of only $10, you can immediately borrow

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In 'N Out Payday Loans advertises that for a fee of only $10, you can immediately borrow up to $200 for one month. If a person accepts the offer, what are

(a) The nominal interest rate per year

(b) The effective rate per year?

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Question Posted: Dec 17, 2012 05:38 AM

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In 'N Out Payday Loans advertises that for a fee of only $10, you can immediately borrow

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Engineering economy

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