Answer:
Friendly's would say you were paying <u>1042.86% APR</u>.
Explanation:
Annual percentage rate (APR) can be described as the yearly interest rate that is paid by a borrower to a lender which is expressed in percentage term without taking compounding into consideration.
Annual Percentage Rate (APR) can be determined using the following formula:
APR = {[(Fees + Interest amount) / Principal / n] * 365} * 100 ……………… (1)
Where;
APR = ?
Fees = 0
Interest amount = Amount to repay - Amount to borrow = $12.00 - $10.00 = $2.00
Principal = Amount to borrow = $10.00
n = Number of days in the loan term = One week = 7 days
Substituting the values into equation (1), we have:
APR = {[(0 + 2) / 10 / 7] * 365} * 100
APR = 1042.86%
Therefore, friendly's would say you were paying <u>1042.86% APR</u>.
<u>Given:</u>
Beginning retained earnings = $217,000
Revenues = $417,000
Expenses = $358,500
Dividends = $12,700
<u>To find:</u>
Ending retained earnings
<u>Solution:</u>
To calculate the ending retained earnings first we have to calculate the net income of the company. The formula to calculate the net income is as follows,
On plugging in the values in the above formula we get,
The formula to calculate the ending retained earnings is as follows,
Therefore, the retained earnings on the balance sheet as of December 31, 2016 will be $262,800 that is option c.
Answer:
Option 3: $12 down with equal payments of $5 for 12 months
Explanation:
In option 1 :
The cost is $ 88,
In option 2 :
Down payment = $ 5,
Weekly payment = $ 8,
Number of weeks = 10,
So, the total cost = 5 + 8 × 10 = 5 + 80 = $ 85,
In option 3 :
Down payment = $ 12,
Monthly payment = $ 5,
Number of months = 12,
So, the total cost = 12 + 5 × 12 = 12 + 60 = $ 72,
In option 4 :
Down payment = $ 20,
Monthly payment = $ 20,
Number of months = 12,
So, the total cost = 12 + 20 × 12 = 12 + 240= $ 252
∵ 72 < 85 < 88 < 252
Hence, option 3 is better.
Answer:
your answer is 4 .........................
