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tensa zangetsu [6.8K]
3 years ago
13

What is the rate of interest on a loan of $2,000, for 284 days, if the amount of interest is $93.37, using the exact interest me

thod? (round your answer to the nearest tenth percent)?
Business
1 answer:
vesna_86 [32]3 years ago
4 0

Exact interest method is using 365 days instead of 360.

 

We are going to use the formula: I = Prt, we will derived the formula of rate.

r = I /Pt would be our formula, plugging in our amounts.

r = 93.37 / 2000 / (284/365)

= 93.37 / 2000 (0.7781)

= 93.37 / 1556.1643

= 0.06 or 6% when converted to percent.

 

To check:

I = Prt

= 2000 x 0.06 x 284/365

= 120 x 0.7781

= 93.37

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The marketing mix factor that represents the value of the product to a customer is price.

<h3>What is marketing mix?</h3>

Marketing mix simply means the elements that are involved in the marketing of a good. They're product, price, place, and promotion.

In this case, the marketing mix illustrated is price since it deals with the value of the product.

Learn more about marketing mix on:

brainly.com/question/14037774

5 0
2 years ago
Which of the following best explains the quote below in terms of political propaganda?
Sphinxa [80]
<span>D. Goethe meant that people who speak out about political issues should thoroughly understand the issues they are taking about.
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4 0
3 years ago
Read 2 more answers
The Bramble Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents
yulyashka [42]

Answer:

410 rooms and $22,550

Explanation:

The computation of the break even point and in dollars is shown below:

Break even point in units is

= Fixed cost ÷ (Selling price - variable cost)

where,

Fixed cost is

= Salaries + Utilities + Depreciation + Maintenance

= $6,600 + $1,100 + $900 + $420

= $9,020

And, the selling price is $55

And the variable cost is

= Maid service + other cost

= $22 + $11

= $33

So, the break even point in points is

= ($9,020) ÷ ($55 - $33)

= 410 rooms

And the break even point in dollars is

= 410 rooms × $55

= $22,550

8 0
3 years ago
After the civil war the supreme court tended to view economic regulation as something that
sattari [20]

Answer:

attacked or assaulted property rights.

Explanation:

After the civil war, the supreme court held the idea that any government regulation (especially economic regulation) denied private businesses of their property rights and liberties, which constituted a violation of the Fourteenth Amendment. The Fourteenth Amendment guaranteed equal and legal rights to all US citizens (businesses were included as citizens) and guaranteed that no government (state or federal) shall deny any citizen of life, liberty, or property without due process of law.

We have to remember that these were sensible times and the supreme court tried to protect the newly given rights specially to African Americans, but sometimes business people are very capable of using ideological trends in their favor.

4 0
3 years ago
Nick’s Novelties, Inc., is considering the purchase of new electronic games to place in its amusement houses. The games would co
ASHA 777 [7]

Answer:

     a. 5 years

     b. Yes they will because the payback period is 5 years.

Explanation:

a. Payback period

First calculate the annual cash inflow:

= Net income + Depreciation

= 66,500 + 28,500

= $95,000

The investment cost was $475,000

Payback period = Investment cost / Annual cash inflow

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= 5 years

b. The company will purchase the games because they have a payback period of 5 years.

5 0
3 years ago
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