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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

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2. Charging fee in case of credit card

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

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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.

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2 years ago

Union Local School District has a bond outstanding with a coupon rate of 2.8 percent paid semiannually and 16 years to maturity.

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Answer:

$4,420.35

Explanation:

Bond Price = $C x [1 - (1 + r)^{-n} / r] + F / (1 + r)^{n}$

Where:

C = Coupon
r = Yield to Maturity
n = compounding periods to maturity

Now we plug the amounts into the formula =

$Bond Price = $140 x [1 - (1 + 0.034)^{-32} / 0.034] + $5,000 / (1 + 0.034)^{32}$

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3 years ago

How would you array the following organizations in terms of the depth and breadth of their product lines?

Evgen [1.6K]

Answer:

a. The depth of a solo practice family practitioner is narrow whereas its breadth can be wide.

b. They have wide depth and breadth.

c. It has narrow depth and breadth.

d. They have narrow depth and narrow breadth.

Explanation:

Depth means number of variants of each product. Breadth means variety of different products offered.

A solo practice family practitioner has limited its practice and decided not to deliver babies. It has narrow breadth whereas depth is high as it can offer counselling service, immediate help to the patient, family planning guidance and so on.

Multi specialty group has wide depth and breadth as it offers group practice at different locations.

An academic medical center will have narrow depth and breadth as there is only medical studies available to the students and they do not have variety of subjects to choose from.

Shouldice Hospital has narrow depth and breadth as it offers only short stay surgeries. They include hernia repair and appendix. Patients with majors surgeries are not welcomed here.

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3 years ago

A written representation from a client’s management that, among other matters, acknowledges responsibility for the fair presenta

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Answer:

The answer is Chief Executive Officer and and the Chief Financial Officer

Explanation:

As part of the requirements for audit process, the external auditor will obtain from the management a written representation for the financial statements being presented to the external auditor. The management is responsible for the preparation of Financial statement and the external auditor expresses their opinions on it.

To show accountability, The Chief Executive Officer and the Chief Financial Officer both sign on it.

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3 years ago

While waiting in line to buy two tacos at 80 cents each and a medium drink for 90 cents, Jordan notices that the restaurant has

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Answer:

(B). 50 cents

Explanation:

Marginal cost is the cost incurred by producing or purchasing one more unit of an item.

If Jordan buys two tacos and a medium drink, it will cost him $2 and 50 cents or 250 cents (80 + 80 + 90).

However, if he opts for the value meal of three tacos and a medium drink, that costs $3 (300 cents), then he would be purchasing one additional taco at a marginal cost of 50 cent.

Marginal cost of additional unit of taco = 300 cents - 250 cents = 50 cents.

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3 years ago