Examlex

Solved

Garth Had Unexpected Expenses This Month and Didn't Have Enough

question 16

Essay

Garth had unexpected expenses this month and didn't have enough in his saving account to pay the rent of $600.He went to Loanshark Larry's to borrow the money until his next paycheck 15 days from now.Larry charges $100 interest for the 15 days.What is the APR for this payday loan?


Definitions:

Dividend Yield

A benchmark in finance that compares the annual dividend output of a company with its stock price.

Annual Dividend

The total amount of dividends a company pays to its shareholders in a given fiscal year.

Current Stock Price

The latest trading price of a company's shares on the stock market.

Common Stock

A type of equity security that represents ownership in a corporation, entitling the owner to vote at shareholder meetings and receive dividends.

Related Questions