Barcain Credit Corp. wants to earn an effective annual return on its - 15606

Solution Posted by
yousafbhutta

yousafbhutta

Rating : (28)C
Solution Detail
Price: $0.50
  • From: Business,
  • Posted on: Sun 10 Mar, 2013
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

Barcain Credit Corp. wants to earn an effective annual return on its consumer loans of 14.3 percent per year. The bank uses daily compounding on its loans. What interest rate is the bank required by law to report to potential borrowers? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Solution Description

Please d

Attachments
Barcain.docx
Barcain.docx