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
ddd [48]
3 years ago
5

Suppose a bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $340.00

at the end of each quarter and then pay off the principal amount at the end of the year. what is the effective annual rate on the loan?
Business
1 answer:
Aleonysh [2.5K]3 years ago
7 0

Answer:

13,6%

Explanation:

The first step to calculate the annual interest rate is to calculate the total yearly interest amount you will pay.

So, you'll pay $340 each quarter and, of course, there are 4 quarters in a year,... so a total of $1,360 (4 x $340) for the year.

Then you need to calculate the ratio of that interest amount compared to the loan amount in order to get the yearly interest

\frac{1,360}{10,000}  = 0,136

The effective annual rate on the load is then of 13,6%.

You might be interested in
Which of the following acronyms refers to the international forum that was created for member countries to engage in the negotia
Lina20 [59]

Answer:

correct answer is B. GATT

Explanation:

solution

GATT  ( General Agreement on Tariffs and Trade ) it is legal agreement between the many country

there purpose was only to promote for the international trade by reduce barrier like tariff and other trade barrier

and

General Agreement on Tariffs and Trade and its successor World Trade Organization have successfully reduce the tariffs

so correct answer is B. GATT

4 0
3 years ago
1. What are some things you need to keep in mind to prepare for your meeting?
Rudiy27

Answer:

what my presentation is going 2 look like and what I am going 2 say

Explanation:

8 0
3 years ago
Mike and Marianne pulled their resources together to open a coffee place. They each put $20,000 and also took a bank loan of $20
snow_tiger [21]

Answer:

WACC= 9.8%

Explanation:

<em>The weighted Average cost of Capital is the average cost of capital for the different sources of long-term capital available to a firm weighted according to the proportion each source of finance bears to the total capital in the pool. </em>

After-tax cost of debt = (1- tax rate) × before tax cost of debt  

= (1-0.3)× 8% = 5.6%

Total Equity = 20,000× 2= 40,000.

Bank loan = 20,000

Total value fund = 40,000 + 20,000 = 60,000

WACC= 5.5%× (2/6)  + 12%× (4/6) = 9.8%

WACC= 9.8%

     

5 0
3 years ago
How can organizations and employees benefit from successful teamwork?
schepotkina [342]

Answer:

The benefits of teamwork include increased efficiency, the ability to focus different minds on the same problem and mutual support.

7 0
4 years ago
The Apple stock’s price is $112.92 on 8/1/15 and becomes $110.30 on 9/1/15. In August, Apple gives a dividend of $0.52 per share
ratelena [41]

Answer:

The holding period monthly return for Apple in August is <u>-2.00%</u>.

Explanation:

Holding period return (HPR) refers to total return that is received by an investor when he holds an asset or portfolio of assets over a period of time.

The holding period return is generally expressed as a percentage can be estimated using the following formula:

HPR = [Income + (P1 - Po)] / Po ....................... (1)

Where;

Income = Dividend = $0.52

P1 = End-of-period value = $110.30

Po = Initial value = $112.92

Substituting the values into equation (1), we have:

HPR = [$0.52 + ($110.30 - $112.92)] / $112.92

HPR = [$0.52 - $2.62] / $112.92

HPR = -$2.10 / $112.92

HPR = -0.02, or -2.00%

Therefore, the holding period monthly return for Apple in August is <u>-2.00%</u>.

6 0
3 years ago
Other questions:
  • IF THE FREE-MARKET SYSTEM IS TO PREVAIL, IT MUST RETAIN THE ____ OF ITS PARTICIPANTS DESPITE THE UNETHICAL BEHAVIOR OF A FEW
    14·1 answer
  • The overall evaluation scores of a laptop based on its processor, portability, screen size, touch, and computer memory are 75, 6
    5·1 answer
  • Identify the group that worked to improve the lives of industrial workers.
    9·1 answer
  • A group of students organizing a protest march would be an instance of ________ speech.
    13·1 answer
  • A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest of the adult pop
    14·1 answer
  • Last year, Johnson Mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. Th
    14·1 answer
  • ____________________: General Agreement on Tariffs and Trade; international treaty to facilitate international trade.
    10·1 answer
  • In its first year of operations, Bronfren Corporation produced 800,000 sets and sold 780,000 sets of artificial tan lines. What
    15·1 answer
  • During the current month, Wacholz Company incurs the following manufacturing costs.
    5·1 answer
  • Grace is waiting in her office to meet Joseph, the new sales representative for Powerslam shoe company. Joseph arrives promptly
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!