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1 year ago

A $150,000 loan has monthly interest-only payments of $1,000. its annual interest rate is:________

Business

1 answer:

kow [346]1 year ago

7 0

A $150,000 loan has monthly interest-only payments of $1,000. its annual interest rate is 8 percent. Option C

This is further explained below.

<h3>What is the annual interest rate?</h3>

Generally, The annual cost of borrowing money, including any associated fees, is referred to as the Annual Percentage Rate (APR). This rate is given as a percentage.

In conclusion, The equation for Rate is mathematically given as

R= payment / principal,

Where

$1,000 x 12 = $12,000

Therefore

$12,000 / $150,000 principal

Rate = 8%.

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complete question

A $150,000 loan has monthly interest-only payments of $1,000. Its annual interest rate is

3 percent.

6.5 percent.

8 percent.

12.5 percent.

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When considering sales tax, more elastic demand results in _____

AnnZ [28]

Answer:

a. more deadweight loss and less revenue

Explanation:

Sales tax increases the price of a good or service.

Demand is elastic if a small change in price has a greater effect on the quantity demanded.

If a sales tax is imposed on a good or service, the price of the good would increase and become more expensive. This would lead to a fall in quantity demanded and an increase in deadweight loss and a loss of revenue.

I hope my answer helps you

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2 years ago

Because of an accident Royce was involved in, his insurance company has increased his annual premium for auto insurance by 5. 2%

PSYCHO15rus [73]

Premium is often paid by people based on some kinds of services offered.

From the picture attached, we can see Royce' premiums for the previous year, which were;

Bodily injury $22.50
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If you add all together, the total premium of the policy was $543

Note that the premiums will increase by 5.2%,

therefore, the new total premium will be = $543 x 1.052 = $571.24

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2 years ago

When the price of paintings is set at $500, the local art gallery supplies 20 paintings per week. When the price of paintings in

Rudiy27

Answer:

the price elasticity of supply is 0.555

Explanation:

The computation of the price elasticity of supply is given below:

= Percentage change in quantity supplied ÷ percentage change in price

= (25 - 20) ÷ (25 + 20) ÷ 2 ÷ (750 - 500) ÷ (750 + 500) ÷ 2

= 5 ÷45 ÷ 250 ÷ 125

= 0.555

Hence, the price elasticity of supply is 0.555

The same is relevant

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2 years ago

Only you can open your safety deposit box. True False

Amanda [17]

Yes and No. In the event of your death or a sickness, you can appoint someone as a deputy to be responsible for the contents of your box. However, other people, like the IRS, cannot open your <span>safety deposit box.</span>

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3 years ago

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For consideration, Hazel orally promises to pay Jill $750 a month, on the first day of every month, for as long as Jill lives. H

Aliun [14]

Answer:

Hazel will have to pay Jill $750 for his remaining life because Hazel had received something which is very expensive in return in compensation of his lifetime monthly payments of $750 to Jill. So this means that the 100% contract is enforceable.

The contract formation can be proved in the court because when Hazel will say that the contract is not written so according to Statute of Fraud he is not liable to pay Jill. This means he is agreeing at the point that the contract was in place.

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3 years ago