What rate should the shop report


Big Dom's Pawn Shop charges an interest rate of 14 percent per annum 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?

Solution Preview :

Prepared by a verified Expert
Finance Basics: What rate should the shop report
Reference No:- TGS0672780

Now Priced at $5 (50% Discount)

Recommended (98%)

Rated (4.3/5)