1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ratelena [41]
4 years ago
8

Suppose your credit card issuer states that it charges a 15.00% nominal annual rate, but you must make monthly payments, which a

mounts to monthly compounding. What is the effective annual rate

Business
1 answer:
lubasha [3.4K]4 years ago
3 0

Answer: 16.08%

Explanation:

The effective annual interest rate simply means the interest rate on a loan that is restated from nominal interest rate.

In the above question, we are informed that it uses 15.00% as the nominal annual rate make monthly payments.

Effective annual rate = (1 + r/m)^m - 1

where,

r = annual nominal interest rate

m = number of compounding periods for the year.

In this case m= 12 since there are 12 months in a year.

The answer has been attached.

You might be interested in
You are the manager of the public transit system. You are informed that the system faces a deficit, but you cannot cut service,
Karolina [17]

Answer:

Total revenue rises immedately after the fare increase, since demand over the immediate period is price Inelastic.

Explanation:

Elasticity in the price demand measures the porcentage in the change of the quantity demanded as a response to a change in the price. If the elasticity is more than 0 but less than 1 it means that the price demand is inelastic. So when the price is rised the quantity demand will decrease in a minor porcentage than the rise in the price so it will represent a bigger revenue.

4 0
3 years ago
_____ innovations pertain to the administrative domain in an organization. Group of answer choices Technology Strategy and struc
OleMash [197]

Strategy and structure innovations pertain to the administrative domain in an organization.

<h3>What is organization structure?</h3>

Organizational structure are set of actions carried establised by an organization, which ultimately guide how they operate.

The structure shows how certain activities are directed in order to achieve the goals of an organization like roles and responsibilities.

Hence, strategy and structure innovations pertain to the administrative domain in an organization.

Learn more about organization structure here : brainly.com/question/17753589

6 0
2 years ago
Most internet reference sites are free to use. t/f
Evgesh-ka [11]

Answer:

It is true the person above is wrong I have proof

Explanation:

5 0
2 years ago
The benefits of portfolio diversification are highest when the individual securities within the portfolio have returns that: var
AnnZ [28]

The benefits of portfolio diversification can be obtained if the fund manager adds the stocks which are less than perfectly correlated. In other words, the stocks in a portfolio should have coefficient correlation lesser than 1. The market portfolio is considered to be fully diversified, this is why if the stocks with high correlation with market portfolio is added to our own portfolio, it will approach to the fully diversified portfolio and help in reducing the total risk.

3 0
3 years ago
Cox Co. accounts for its inventory using the LIFO cost method. An inventory loss from a permanent market decline of $360,000 occ
kirill115 [55]

Answer:

$360,000

Explanation:

Last in first out (LIFO) is a method used in inventory where the cost of most recently purchased goods is the one to be expensed first. Also current losses are the first to be reported.

An inventory loss incurred in a quarter must not be deferred, but recorded as items within an interim must be reported in the same period they were incurred, unless it can be redeemed before the end of the fiscal year. It is not considered a temporary item.

The loss reported in May will be reported for that quarter in June.

8 0
3 years ago
Other questions:
  • A person has a net asset of $1 million, including a $300,000 net equity of a house (market value of the house – mortgage). Speci
    8·1 answer
  • ___________________- is another word for trail.
    7·2 answers
  • F a monopolist increases the selling price of a good from $20 to $30, then what is the marginal revenue?
    12·2 answers
  • A credit card issuer charges an apr of 13.50%, and its billing cycle is 30 days long. what is its periodic interest rate?
    12·2 answers
  • Athena works in the Diagnostic Services Pathway of the Healthcare career cluster. She spends her day with patients who have hear
    8·2 answers
  • Diversified Semiconductors sells perishable electronic components. Some must be shipped and stored in reusable protective contai
    12·1 answer
  • When pursuing a Blue Ocean strategy, a firm in a crowded marketplace attempts to out-compete rivals on both cost and product fea
    12·1 answer
  • G. How trustworthy do you think the secondary source is? Do you think this source
    10·1 answer
  • For each cost item, indicate whether it would be variable or fixed with respect to the number of units produced and sold, and th
    6·1 answer
  • That something unique your business should have which other business do not have ​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!