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Elis [28]
3 years ago
9

Payday loans are very short-term loans that charge very high interest rates. You can borrow $400 today and repay $476 in two wee

ks. What is the compounded annual rate implied by this 19 percent rate charged for only two weeks? (Hint: Compound the 2-week return 26 times for the annual return.) (Do not round intermediate calculations and round your final answer to 2 decimal places.).
Business
1 answer:
Murljashka [212]3 years ago
3 0

Answer:

9109.18%

Explanation:

Data provided in the question:

Interest rate charged for two weeks = 19% = 0.19

Now,

The Annual rate (APR) = ( 1 + i )ⁿ - 1

Here,

r is the interest rate per period = 19%

n = number of periods in a year

In the given question interest is charged every two

also,

there are 52 weeks in a year

Therefore, total number of periods, n = \frac{52}{2} = 26

Therefore,

Annual rate = ( 1+ 0.19 )²⁶ - 1

or

Annual rate = 92.091  - 1 = 91.0918

or

91.0918 × 100 = 9109.18%

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Which of the following is generally not one of the five processes integrated into an enterprise project management methodology?
Xelga [282]

Answer:

a. Manpower staffing

Explanation:

Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service.

Enterprise project management (EPM) can be defined as a strategic process which typically involves managing various projects on a large scale.

Some of the processes integrated into an enterprise project management methodology include the following;

I. Total quality management: it is a management framework that is focused on achieving long-term success through the satisfaction of your customers by the efforts of all the member of staff in an organization.

II. Scope change management: it involves defining what the objective and goal of a project is.

III. Risk management: it can be defined as the process of identifying, evaluating, analyzing and controlling potential threats or risks present in a business as an obstacle to its capital, revenues and profits.

7 0
2 years ago
Bank a has total deposits of $125 million and total reserves of $26 million. the required reserve ratio is 15 percent. the bank
olga2289 [7]

The bank has an excess of $7,250,000. The total deposits maintained by the bank are $125 million. The reserves maintained by the bank are $26 million. The required reserve ratio is 15%.

Total deposits are 125,000,000.

The Required reserve ratio is 15%.

So in actuality, the bank had to maintain a reserve of $18,750,000.

It is maintained a total reserve of $ 26,000,000.

Excess reserve of $7,250,000.

The banks are required to maintain a particular percentage as reserve of the amount deposited with them. Deposit is that amount that the customers maintain with them. The banks make a profit by lending this deposit to other lenders. The bank has to keep an amount as reserve to see that they are able to pay back the customer their deposit amount if required by the customer.

Learn more about reserve and deposits of bank here:

brainly.com/question/15296672

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8 0
1 year ago
Which statement is correct in regard to renting a home?
olasank [31]
The answer is the first one
4 0
3 years ago
What type of supply chain configuration is most appropriate if your organization needs to minimize inbound transportation costs,
pochemuha

Answer:

centralized suplly chain

Explanation:

Decentralize supply chain processes can be defined as processes that must be performed in the plant because they involve physical interaction with the material. There processes are the ones where the decision-making is ‘localized’.  It involves supply chain managers, planners, manufacturing teams, health and safety team and possibility trade management folks.

3 0
4 years ago
Zahn company manufactures a product that sells for $120. a selling commission of 10% of the selling price is paid on each unit s
sweet [91]
The contribution margin is the difference between sales volume and variable costs.
 Or to put it another way: the contribution margin is the profits of a company, without considering the fixed costs.
 We have then:
 MC = $ 120 -60 $ = $ 60
 Answer:
 the contribution margin per unit is $ 60
3 0
3 years ago
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