1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sphinxa [80]
2 years ago
12

What is the calculation used to determine the estimated annual interest amount a borrower will pay on a loan?

Business
1 answer:
PIT_PIT [208]2 years ago
7 0

The calculation used is mentioned as

Annual\ Interest\ Amount\ =\frac{Loan\ balance\ X\ Interest\ Rate}{12}.

What is Annual Interest Amount?

  • An interest rate is written as an annual percentage rate. It factors in variables like monthly payments to determine what proportion of something like the principal you'll be  paying yearly. APR is another term for the yearly rate of interest payable on investments that does not take into account the annual compounding of interest.
  • What you still owe just on mortgage principal is known as the loan balance. The loan balance is calculated as the difference here between initial mortgage balance and the sum of your principal payments. It's crucial to be aware of your loan's balance.
  • An interest rate indicates how expensive borrowing is or how lucrative saving is. Therefore, if you are a borrower, the interest rate refers to the amount you pay for borrowing money and is expressed as a percentage of the overall loan amount.

The calculation used is illustrated as :

Annual\ Interest\ Amount\ =\frac{Loan\ balance\ X\ Interest\ Rate}{12}

Learn more about Annual Interest Amount here:

brainly.com/question/2151013

#SPJ4

You might be interested in
What is divisional structure in organization?​
dedylja [7]

Explanation:

The divisional structure is a type of organizational structure that groups each organizational function into a division. ... Each division contains all the necessary resources and functions within it to support that product line or geography (for example, its own finance, IT, and marketing departments)

5 0
3 years ago
Read 2 more answers
If fixed costs are $240,000, the unit selling price is $36, and the unit variable costs are $20, what is the break-even sales (u
Nina [5.8K]

The break-even sales (units) is 15000;

240000/(36-20)

At this moment, fixed and variable costs will be completely covered by sales revenue (income).

Be = FC/(SP - VC) FC = fixed costs SP = sale price VC = variable costs

More about break-even sales:

The revenue level at which a company makes no profit is known as break even sales. This sales quantity completely offsets all of the variable costs related to the sales as well as the underlying fixed costs of a business.

Knowing the break even sales level gives managers a benchmark for the minimal volume of sales that must be produced throughout each reporting period to prevent losses.

For instance, the break even level can be used to reduce fixed expenses to meet the anticipated level of future sales if a business slump is anticipated.

Learn more about break-even sales here:

brainly.com/question/13770712

#SPJ4

6 0
2 years ago
As little as _______ percent of privately owned 4es ever move from the start-up stage to the success stage.
Vinil7 [7]
<span>As little as (C) 2 percent of privately owned 4es ever move from the start-up stage to the success stage. Owning a start-up company is a tedious and challenging job. It takes a lot of responsibility towards making it a stable one and easily attack conflicts. It is a big risk, but the success of the risk will bring you to a higher level.</span>
6 0
3 years ago
A _____ appraisal assesses employees on subjective attributes like attitude or leadership.
ser-zykov [4K]

A<u> "trait"</u> appraisal assesses employees on subjective attributes like attitude or leadership.



A trait is a trademark that an individual has. Traits incorporate things, for example, appearance, state of mind, activity, hard working attitude, initiative capacity, a feeling of morals, reliability, versatility and judgment.  

Trait appraisals are easy to create and simple to score, yet they are likewise very emotional. Inside an organization or work gathering, trait appraisals will in general reward representatives who are all the more cordial, adaptable and innovative.

3 0
4 years ago
Read 2 more answers
How is power divided among the branches of government
Bogdan [553]

There are 3 branches of government:

-Legislative: Congress makes and passes laws, can declare war, and set the national budget

-Judicial: The federal judges and Supreme Court rule on the Constitutionality of laws

-Executive: The President of the United States heads the exec branch and should enforce the laws passed by congress

6 0
3 years ago
Other questions:
  • On april 6, apple entered into a signed contract with bean, by which apple was to sell bean an antique automobile, having a fair
    8·1 answer
  • Peter pine is doing his budget. he discovers that he has spent an average of $225.00 a month on entertainment for the year with
    12·1 answer
  • AMR Corporation (parent company of American Airlines) reported the following (in millions).
    6·1 answer
  • Working with people sometimes requires special techniques – what are some for graphic designer job?
    11·1 answer
  • The partnership agreement of Martinez and Magden states that L. Martinez will receive 50% of all income and losses. During the c
    13·1 answer
  • If management adopts Ryan's suggestion of reducing Frozen Fun Ice Cream's charitable donations until profits grow, the company w
    7·1 answer
  • If MM's proposition II without taxes is true, what is the return to investors who invest $20 in a stock, borrow another $20 to b
    11·1 answer
  • How to choose scented candles online?
    13·1 answer
  • Several years ago, Junior acquired a home that he vacationed in part of the time and rented out part of the time. During the cur
    8·1 answer
  • The basic economic cost of unemployment is forgone ______. Multiple choice question. inputs output supply labor
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!