-Ricky Ripov’s Pawn Shop charges an interest rate of 15.25 percent per month on loans to its customers. Like all lenders, Ricky must report an APR to consumers.

What rate should the shop report? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.)

Annual percentage rate %

What is the effective annual rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.)

Effective annual rate %

183.00%

449.15%

Explanation:

The computation of annual percentage rate and the effective annual rate  shown below:

Annual percentage rate is

= Interest rate per month × Total Number of months  in a year

= 15.25% × 12  months

= 183.00%

The effective annual rate is

= (1 + nominal interest rate ÷ periods)^ number of period - 1

= (1 + 15.25% ÷ 12)^12 - 1

= 449.15%

hi noah!

the first time you break a rule, you get a warning.

if you continue to break rules you get kicked out for a certain amount of time.

so, to answer your question 1.

hope this buddy!

- courtney

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it