All categories

3 years ago

When a lender charges interest, it is known as:

2 answers:

8 0

When a lender charges interest, it is known as: A. Annual Percentage Rate (APR) The annual percentage rate is the rate of interest lenders such as credit card companies use when charging interest on borrowed funds from their users. The annual percentage rate is divided by the 12 months in the year and then charged each month on the finances that are not paid off.

Hitman42 [59]3 years ago

3 0

Option A is correct.

When a lender charges interest it is known as an annual percentage rate (APR).

Further explanation:

Annual percentage rate (APR):

The annual percentage rate (APR) shows the interest rate for the annual year.The annual percentage rate is significant as it gives the idea or the estimation of the amount which is to be paid for the loan amount.

Justification for the correct and incorrect answer:

Annual Percentage Rate (APR): This option is correct.

The annual percentage rate (APR) shows the annual percentage rate of interest. It tells the amount of interest charged on the loan amount.

Surplus: This option is incorrect.

Surplus is basically the excess amount of the production.

Deficit: This option is incorrect.

Deficit refers to the very low or less amount.

Drawbacks: This option is incorrect.

Drawbacks are the problems or disadvantages.

Thus, when a lender charges interest it is known as an annual percentage rate (APR).

Learn more:

1. Common credit card fee

brainly.com/question/1124275

2. Charging fee in case of credit card

brainly.com/question/2668305

3. Consequences of non-payment of monthly credit card payment

brainly.com/question/3211811

Answer details:

Grade: High School

Subject: Business studies

Chapter: Money and banking

Keywords: When a lender charges interest, it is known as, Annual Percentage Rate (APR), Surplus, Deficit, Drawbacks, low, less, amount, excess, production, interest charged, loan amount, annual year, annual, percentage, shows, problems, disadvantages, tells the amount, credit card payment, loan, money.

You might be interested in

Assume you are running a paid campaign and your original budget was $50,000 for the month. It's a 31-day month and you have spen

mash [69]

Answer: $2750

Explanation:

The original budget was $50,000 for the month, $20,000 has been spent already after which there was a revision of the monthly budget to $75,000.

Since $20000 has been spent, the remaining budget will be:

= $75000 - $20000

= $55000

Also, the money was spent for 11 days, therefore the number of days remaining will be:

= 31 - 11

= 20 days.

Therefore, the new daily budget for the month will be:

= $55,000 / 20 days

= $2,750

8 0

3 years ago

A company recently lowered its service performance from 99 percent product availability to 97 percent product availability. The

Degger [83]

Answer:

less than $1 million.

Explanation:

According to my research, I can say that based on the information provided within the question this next change is likely to save less than $1 million. We can predict this since the first change saved $1 million but was a reduction of 3%, the second change is a reduction of 2% so it will most likely not reach 1$ million in savings

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0

4 years ago

At the beginning of its current fiscal year, Willie Corp.’s balance sheet showed assets of $10,100 and liabilities of $6,900. Du

Viefleur [7K]

Answer:

Dividends = 6,000

Explanation:

Ending liabilities = Beginning liabilities - Decrease in liabilities

= $6,900 - $1,200

= $5,700

Ending net assets = Ending total assets - Ending total liability

$3,900 = Ending total assets - $5,700

Ending total assets = $3,900 + $5,700

= $9,600

Ending RE = Ending total assets - Ending liabilities

= $9,600 - $5,700

= $3,900

Dividend = Beginning RE + Net income - Ending RE

= $6,900 + $3,000 - $3,900

= $6,000

3 0

3 years ago

Which term describes the restoration of the insured person to the financial position he or she was in before the loss occurred?.

Ksivusya [100]

The term that describes the restoration of the insured person to the financial position that he or she was in before the loss occurred is called indemnity. This allows protection to the insurer in case of loss and damage and will protect against any legal quandry that may occur.

4 0

4 years ago

Read 2 more answers

Which are types of income tax that people pay? Check all that apply.

astraxan [27]

Answer;

-Federal

-Local

-State tax

Explanation;

-A federal income tax is a tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities.

-All businesses must pay state income taxes. Some businesses, such as corporations, are taxed as separate entities for income purposes, while the income of other businesses is not taxed separately from the incomes of their principal owners.

-A local tax is usually collected in the form of property taxes, and is used to fund a wide range of civic services from garbage collection to sewer maintenance. The local taxes include:

Property tax
Operating tax, which is used by some cities in lieu of a business license
Sales tax, if your business is engaged in retail sales
Income tax, which is rare but may be imposed on businesses operating in larger cities

8 0

3 years ago

Read 2 more answers