Bergheim's Quick Loans Inc. offers you "three for four or I knock on your door."...
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Bergheim's Quick Loans Inc. offers you "three for four or I knock on your door." This means you get $3 today and repay $4 when you get your pay cheque in one week (or else). (Do not round intermediate calculations. Round the final answers to 2 decimal places.) If you were brave enough to ask, what is the weekly compounded APR Bergheim's would say you were paying? Weekly compounded APR What's the effective annual return Bergheim's earns on this lending business? EAR 3,135,086.84 % 1,733.33 %
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