As a jewelry store manager, you want to offer credit, with i

Assignment Help Finance As a jewelry store manager, you want to offer credit, with i

Finance

As a jewelry store manager, you want to offer credit, with i

As a jewelry store manager, you want to offer credit, with interest on outstanding balances paid mo… Show more As a jewelry store manager, you want to offer credit, with interest on outstanding balances paid monthly. To carry receivables, you must borrow funds from your bank at a nominal 5%, monthly compounding. To offset your overhead, you want to charge your customers an EAR (or EFF%) that is 2% more than the bank is charging you. What APR rate should you charge your customers? Round your answer to two decimal places. • Show less

Order Now

Ready to try a high quality writing service? Get a discount here