Problem- compound frequencypayday loans are very short-term, Ask an Expert

Finance

Problem- Compound Frequency

Payday loans are very short-term loans that charge very high interest rates. You can borrow $500 today and repay $580 in two weeks. What is the compounded annual rate implied by this 16 percent rate charged for only two weeks? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Compounded annual rate %

please have explaination with details

View complete question

Financial Management, Finance

Category:- Financial Management
Reference No.:- M91886833

Have any Question?Write your Review or question?

Related Questions in Financial Management

Assignmentassignment purposes1 evaluate the characteristics

Assignment Assignment Purposes: 1. Evaluate the characteristics of e-commerce. 2. Demonstrate effective use of technology for communication. 3. Evaluate the effectiveness of an e-commerce Web site. 4. Explain the securit ...

Assignment problems1 on the day harry was born his parents

Assignment Problems 1. On the day Harry was born, his parents put $1600 into an investment account that promises to pay a fixed interest rate of 5 percent per year. How much money will Harry have in this account when he ...

Discussion board unit the balance sheet - liabilitiesin

Discussion Board Unit: The Balance Sheet - Liabilities In 300-400 words, define and discuss the following: Estimated and contingent liabilities The difference between gross and net take home pay The difference between em ...

Financial management assignment questions -1 explain why

Financial Management Assignment Questions - 1. Explain why companies should discount projects using the cost of equity. When should they use the WACC instead? When should they use either? 2. Given the following informati ...

This assignment investigates the financial needs of your

This assignment investigates the financial needs of your business venture from Assignment. Write a three to four (3-4) page paper in which you: Outline the financial start-up needs for this business. Consider such items ...

The following examination is due no later than 9 am monday

The following examination is due no later than 9 AM Monday, October 22nd. You are to email me the exam in an XLSX file named after yourself and containing your section. For example, if your name is Leslie King, the file ...

Answer the following questions 1evaluate the criteria fel

Answer the following Questions : 1. Evaluate the criteria FEL uses to assign managers to project teams. What effi-ciencies do these criteria create? What are the resulting problems? 2. Why is it even more important that ...

Response 1 nancymergers or acquisitions m amp a - this

Response #1 (Nancy) Mergers or Acquisitions (M & A) - this publication: Mergers and acquisitions covers all aspects of mergers and acquisitions. Beginning with the pre-combination phase (the period between the deal's ann ...

Assessment - projectpart a- asset register1 develop a

ASSESSMENT - PROJECT Part A- Asset Register 1. Develop a physical asset register for the Acumen kitchen and restaurant which includes: buildings, computer system, equipment fixtures, fittings and furniture in the kitchen ...

Financial management assignment questions -1 if you assume

Financial Management Assignment Questions - 1. If you assume market interest rates are expected to increase over the term of the loan, would you prefer a loan with a fixed interest rate for the life of the loan or rather ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Financial Management Expert