Elliott Credit Corp. wants to earn an effective annual return on its consumer loans of 15.7 percent per year. The bank uses daily compounding on its loans. What interest rate is the bank required by law to report to potential borrowers

the rate of interest needed to report to the potential borrower is 14.59%

Explanation:

The computation of the rate of interest needed to report to the potential borrower is given below:

= ((1 +  rate of interest per year)^(1 ÷ number of days in a year) - 1) × number of days in a year

= ((1 + 15.7%)^(1 ÷ 365) -1) × 365

= 14.59%

hence, the rate of interest needed to report to the potential borrower is 14.59%

the answer is: c.that person might be arrested and deported

filling w-4 form incorrectly usually would rise suspicions from government's auditors. when they notice such mistakes, they would send their teams to investigate the situation further.

if those investigation teams believe that the incorrectness is done on purpose (with malicious intent), that person can be arrested or deported

a.