Big Doms Pawn Shop charges an interest rate of 25.5 percent per month on loans to its
Question:
Big Dom’s Pawn Shop charges an interest rate of 25.5 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers. What rate should the shop report? What is the effective annual rate?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Answer a APR 306 b EAR 142660 Given Monthly Interest Rate i 255 or ...View the full answer
Answered By
Navdeep Singh Bhati
Highly ethical, motivated and performance-focused Senior Executive with a record of excellence in all areas of Finance and Accounting Management supported by strength in Sales, Marketing, Operation, and Business Administration. Demonstrated history of creating financial reports that contribute to
the strategic direction and critical business decisions leading to sustained growth and profitability. Well-disciplined with a proven ability to manage multiple initiatives simultaneously, delivering exceptional results under stringent deadlines.
Areas of expertise include:
• Financial Analysis & Reporting • Banking & Cash Management
• Business & Financial Modelling •Cash-flow Management
• New Business Development •Strategic Decision Making
• Revenue Cycle Management •P&L Management Analysis
• Budget Planning & Forecasting •Cost Control & Reduction
• Policy & Procedure Development •Tax & Regulatory Compliance
• Valuation Methods & Analysis •Analytical & Problem Solving
• Office Management •Financial Audit
• Account Reconciliation • Entrepreneurship
0.00
0 Reviews
10+ Question Solved
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Question Posted:
Students also viewed these Business questions
-
Big Shows Pawn Shop charges an interest rate of 30 percent per month on loans to its customers. Like all lenders, Big Show must report an APR to consumers. What rate should the shop report? What is...
-
Ricky Ripov's Pawn Shop charges an interest rate of 20 percent per month on loans to its customers. Like all lenders, Ricky must report an APR to consumers. What rate should the shop report? What is...
-
Ricky Ripov's Pawn Shop charges an interest rate of 13.7 percent per month on loans to its customers. Like all lenders. Ricky must report an APR to consumers. What rate should the shop report? What...
-
Why is it that I got 0 Row with nothing showing up? Is there a flow in my logic? Using AdventureWorks DW2017, list all the Canadian customers who have spent more than $5,000 total. Show Customerkey,...
-
A sensitive test for bismuth(III) ion consists of shaking a solution suspected of containing the ion with a basic solution of sodium stannite, Na2SnO2. A positive test consists of the formation of a...
-
In periods of excess capacity, does it make sense for a manufacturing company to produce some products to stock (i.e., build up inventory) for sale in future periods of high demand? Give two examples...
-
Detecting errors in an accounting system Melanie Jacobs accounting system that uses sales, purchases, cash receipts and cash payments journals and a general journal. At various times during the year,...
-
1. What aspects of power and political behaviors are suggested in these stories? 2. What personality traits are suggested in the stories of the women leaders who serve on these various boards? 3....
-
11. If dy + 2y tan x = sin x, 0
-
2. You are required to prepare and submit a short report of your findings on Blackboard. The report should not be more than one page long and should be submitted under the name...
-
An investment will pay you $95,000 in 10 years. If the appropriate discount rate is 9 percent compounded daily, what is the present value?
-
You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 4.7 percent for a 60-month loan to buy the car. What will your monthly payments be?...
-
Why does the indirect NCI receive a share of only post-acquisition equity?
-
What are the long-term implications of social change for systems of governance, community resilience, and collective well-being, and how can participatory approaches to social innovation foster...
-
With reference to decided cases and other authorities, compare and contrast how the following unions are dealt with in the Namibian and South African legal systems: 1.1 Civil Unions 1.2 Co-Habitation...
-
A piece of newly purchased industrial equipment costs $728143 and is classified as seven-year property under MACRS. What is the book value at the beginning of year 8? (Round your final answer to the...
-
You find the following order book on a particular stock. The last trade on the stock was at $58.34. Buy Orders Sell Orders Shares Price Shares Price 250 $58.33 250 $58.36 200 58.32 800 58.37 900 175...
-
Give a company that sells electromagnetic generators. Identify the following: 1. profile 2. Location 3. Years in business 4. Products/packaging 5. Price points 6. SWOT Analysis What are the legal...
-
(a) Show that applying the Gram-Schmidt algorithm to the columns of A produces an orthonormal basis for mg A. (b) Prove that this is equivalent to the matrix factorization A = Q R, where Q is an m n...
-
Write the given system without the use of matrices. D) - ()- d (x sin t + 8 (2+ 1)
-
Credit Period Length in each of the following pairings, indicate which firm would probably have a longer credit period and explain your reasoning. a. Firm A sells a miracle cure for baldness: Firm B...
-
Credit Period Length in each of the following pairings, indicate which firm would probably have a longer credit period and explain your reasoning. a. Firm A sells a miracle cure for baldness: Firm B...
-
Inventory Types what are the different inventory types? How do the types differ? Why are some types said to have dependent demand whereas other types are said to have independent demand?
-
Once upon a time a farmer went to market and purchased a fox, a goose, and a bag of beans. On his way home, the farmer came to the bank of a river and rented a boat. But in crossing the river by...
-
Rail Holding (Private) Limited (RHL) has three subsidiary companies: Gannet Leaf Limited (GLL), which is unlisted, and Budgerigar Sea Limited (BSL) and Vulture Bird Limited (VBL), which are listed....
-
As a loan officer for Third Commercial Bank your job description includes evaluating and recommending approval of commercial and real estate loans. On your desk is a loan application from Avantgarde...
Study smarter with the SolutionInn App