A loan shark lends you $90 at 2% compound interest per week (this is a weekly , not an annual rate). (Round your answers to the nearest dollar.) (a) How much will you owe after 2 years? (Use 52 weeks...


A loan shark lends you $90 at 2% compound interest per week (this is aweekly, not an annual rate). (Round your answers to the nearest dollar.)



(a) How much will you owe after 2 years? (Use 52 weeks per year.)





(b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig." Find the shark's vig.



Jun 09, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here