Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. axis credit wants to earn an effective annual retu

Axis Credit wants to earn an effective annual return on its consumer loans of 14.67%...

50.1K

Verified Solution

Question

Finance

Axis Credit wants to earn an effective annual return on its consumer loans of 14.67% per year. The financing company uses daily compounding on its loans. What interest rate is Axis required by law to report to potential borrowers? (Do not include the percent sign (%). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Based on the readings for the week, would you say that Steve Jobs was an ethical...

General Management
Q

Assume there are three companies that in the past year paid exactly the same annual dividend...

Finance
Q

[The following information applies to the questions displayed below.]    On July 1, 2018, Tony and Suzie organize...

Accounting
Q

If our blood CO2 carbon dioxide increases then there is an increase of hydrogen ions...

Biology
Q

A 3 33 B 4 33 K The packing fraction in the CsCl structure with...

Physics
Q

Graph the function over a two period interval 3x Choose the correct graph below OA...

Basic Math
Q

The Abco Company manufactures electrical assemblies The current process uses 10 workers and produces 200...

Statistics
Q

[The following information applies to the questions displayed below.] Iguana, Incorporated, manufactures bamboo picture...

Accounting
Q

The following information is taken from the financial records of Flowserve Inc. Cost of...

Accounting
Q

Trico Company set the following standard unit costs for its single product Direct materials (30...

Accounting
Q

what is the maximum amount of tax-exempt contributions a Missouri taxpayer may make to an...

Accounting
Q

As an auditor, describe the procedures that you consider to be appropriate to perform during...

Accounting