Friendly's Quick Loans, Inc., offers you "eight for ten or I knock on your door." This means you get $8 today and repay $10 when you get your paycheck in one week (or else). If you were brave enough to ask, what APR would Friendly's say you were paying? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) APR % What's the effective annual return Friendly's earns on this lending business? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) EAR
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Friendly's Quick Loans, Inc., offers you "eight for ten or I knock on your door." This means you get $8 today and repay $10 when you get ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Which of the following would you want to do when developing a market marketing position A. position yourself in an untapped customer Market B. Market yourself as a general her caterer willing to accept any type of job C.
Answers (1)
Last quarter, RP Enterprises earned $220,000 in sales revenue and had $90,000 cost of goods sold (at standard).
Answers (1)
The service division of Raney Industries reported the following results for 2020. Sales Variable costs Controllable fixed costs Average operating assets $500,000 300,000 75,000 625,000 Management is considering the following independent courses of
Answers (1)
Drafi Arts Corp. makes and sells original handicraft products. The management of the company has been successfully using a niche strategy for years. In this case, which of the following is most likely to be true of Drafi Arts Corp.?
Answers (1)
Assume the following information:Selling price per unit $200Contribution margin ratio 50%Total fixed costs $275,000How many units must be sold to generate a profit of $50,000? a. 3,250 unitsb. 2,500 unitsc. 2,750 unitsd. 4,000 units
Answers (1)
New Questions in Business
How might the consumer protection laws of a country affect global business activities
Answers (1)
Encoding refers to the creation of a common field of experience during the communication process. the process of selecting a communication channel during the communication process.
Answers (1)
Which of the following is the cost of quality classification for costs such as defects that pass through the system, such as customer warranty replacements, loss of customer or goodwill, handling complaints, and product repair? A. Appraisal costs B.
Answers (1)
Based on the information provided by this map, which body of water was most likely the center of roman trade
Answers (1)
Which of the following statements is true? Tax rates refer to the percentage of income that is taxed, whereas tax revenues refer to the dollars collected by government in taxes.
Answers (1)