Payday loans are very short-term loans that charge very high interest rates. You can borrow $250 today and repay $325 in two weeks. What is the compounded annual rate implied by this 30 percent rate charged for only two weeks? (Hint: Compound the 2-week return 26 times for the annual return.)

While on vacation in las vegas jennifer, who is from utah, wins a progressive jackpot playing cards worth $15,875 at the casino royale. what implication does she encounter when she goes to collect her prize?

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false

What is the difference between the contractual interest rate and the market interest rate?