It is important because that is how you budget and how you are able to save money if an emergency comes up
One would assume that the answer is “Job”
Answer:
Definitely
Explanation:
I 100% agree as circumstances differ and could affect the investment however it can be a way to generate lots of money.
Answer:
c. 11.1%
Explanation:
The formula to compute the implied rate is shown below:
Future Value = Present Value × (1 + Interest rate)
$20,000 = $18,000 × (1 + Interest rate)
$20,000 = $18,000 × (1 + Interest rate)
So, (1 + Interest rate) = 1.1111
So, the interest rate is
= 1.1111 - 1
= 0.1111 or 11.1%
We simply applied the above formula to determine the implied rate on this loan