What rate should the shop report

Reference no: EM131969103

Question: EAR v APR-Big Dom's Pawn Shop charges an interest rate of 32 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? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131969103

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