pose you are in a hurry to get your income refund. if you mail your tax return, you’ll receive your refund in 5 weeks. if you file the return electronically through a tax service, you can get the estimated refund tomorrow. the service subtracts 100 dollar fee and pays you the remaining expected refund of $1956. what is the apr? what is the ear? how large does the refund have to be for the apr to be 15%?
pose you are in a hurry to get your income refund. if you mail your tax return, you’ll receive your refund in 5 weeks. if you file the return electronically through a tax service, you can get the estimated refund tomorrow. the service subtracts 100 dollar fee and pays you the remaining expected refund of $1956. what is the apr? what is the ear? how large does the refund have to be for the apr to be 15%?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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suppose you are in a hurry to get your income refund. if you mail your tax return, you’ll receive your refund in 5 weeks. if you file the return electronically through a tax service, you can get the estimated refund tomorrow. the service subtracts 100 dollar fee and pays you the remaining expected refund of $1956. what is the apr? what is the ear? how large does the refund have to be for the apr to be 15%?
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