What is the compounded annual rate

Reference no: EM132031247

Question: Payday loans are very short-term loans that charge very high interest rates. You can borrow $400 today and repay $480 in two weeks. What is the compounded annual rate implied by this 20 percent rate charged for only two weeks? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM132031247

Questions Cloud

What are the three models of management ethics : What are the three models of management ethics and how these influence leaders, and the ethical challenges of operating in a multinational environment?

Conceptual design process for erd construction : While in the conceptual design process for ERD construction? Please describe how you would accomplish this first step. Please explain.

How do they differ in terms of leadership : How do they differ in terms of leadership, membership, purpose, and activities? What is your role in the group? Provide examples in your discussion.

What is the importance of the commercial funnel : What is the importance of the commercial funnel and the application of new product development (NPD) processing for commercialisation of innovation

What is the compounded annual rate : Payday loans are very short-term loans that charge very high interest rates. You can borrow $400 today and repay $480 in two weeks.

Dependent variable and independent variable : What is the difference between a dependent variable and independent variable in marketing and what is an example of each?

What is the expected current yield : For the coming year, what is the expected current yield? (Hint: Refer to footnote 7 for the definition of the current yield and to Table 7.1.)

Prepare the journal entries to record income tax expense : Assume tax assets are considered more likely than not to be realized. Prepare the journal entries to record income tax expense

What is the eps before any debt is issued : Pendergast inc. has no debt outstanding and a total market value of $180,000. Earnings before interest and taxes, EBIT are projected to be 23,000.

User Account

All Pages