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

Tactical plans specify how a company will use resources, budgets, and people to accomplish specific goals within its mission

Neporo4naja [7]

Answer:

A. True

Explanation:

Tactical planning outlines the short-term steps and actions that should be taken to achieve the goals described in the strategic plan.

8 0

3 years ago

The market size and market growth rates in the foreign market can be influenced negatively by:______.A. population sizes, income

Nikitich [7]

Answer:

A. population sizes, income levels and cultural influences, the current state of the infrastructure and distribution and retail networks available.

Explanation:

The reason is that the foreign markets are affected by the cultural differences for example if US clothing brand enters Suadia Arabia then it can not sell its brands here because in the Suadia Arabian culture girls wear full sleeves and are not skin tight fits. This means that the culture have an influence over the foreign markets. Likewise the income level tells about how much the customer can spend on luxury items, population of customers available is also an attractive part that the investors see to move in the markets. The infrastructure of a country and the regional importance of the state are also the motivators for the foreign companies to move in to the market.

These factors are the ecosystem of the country that gives insight of the market size and market growth of a particular market.

8 0

4 years ago

Milo Clothing experienced the following events during 2016, its first year of operation: 1. Acquired $12,000 cash from the issue

Serga [27]

Answer:

Explanation:

The four transactions will be recorded in the general journal as follows:

1) Debit cash $12,000

Credit common stock $12,000

(To record the sale of common stock)

2) Debit purchases $5,600

Credit cash $5,600

(To record purchase of inventory in cash)

3) Debit cash $5,712

Credit sales $3,360

Credit gross profit $2,352

(To record the sale of inventory in cash)

4) Debit advertising expenses $650

Credit cash $650

(To record the payment of advertising expenses in cash)

5 0

4 years ago

Which three factors decrease because of protectionism? competition job security domestic production goodwill with trade partners

ludmilkaskok [199]

answer:

competition, goodwill with trade partners, and importation of goods

3 0

2 years ago

Competition happens when two or more businesses

g100num [7]

Answer:

fight for the same benefit or gain

Explanation:

For example, if there are two firms in an industry. The goal of the two firms would be to maximise profit. To achieve this, the two firms would engage in various competitions in order to attract customers.

For example, they may differentiate their products or give discounts in order to attract customers and so increase profits

5 0

3 years ago