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
jonny [76]
3 years ago
6

Big Dom’s Pawn Shop charges an interest rate of 27.4 percent per month on loans to its customers. Like all lenders, Big Dom must

report an APR to consumers.
(a) What rate should the shop report? (Do not round intermediate calcualtions. Enter your answer as a percent rounded to 1 decimal place, e.g., 32.1.)
(b) What is the effective annual rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Makovka662 [10]3 years ago
3 0

Answer:

Annual percentage rate: 328.8%

effective rate: 1728%

Explanation:

APR: Annual Percentage Rate

as the month is monthly we must multiply by 12 to convert into annual

27.4 x 12 = 328.8%

<u>The effective rate will have into consideration the compounding effect:</u>

(1+r_m)^{12}  = 1 + r_e

(1+0.274)^{12}  -1 = r_e

re = 1728%

You might be interested in
A random sample of 160 households is selected to estimate the mean amount spent on electric service. A 95% confidence interval w
Yuri [45]

Answer:

Option D. We are 95% confident that the mean amount spent on electric service among the 160 households is between $151 and $216.

Explanation:

A confidence interval is a range of values, derived from the sample statistics, which may include the value of an unknown population parameter.

A 95% confidence interval indicates that between 152 of 160 samples (95%) of the same population will produce confidence intervals that will contain the population parameter.

It also means that we have a 95% confidence that the average (average amount) is among the resulting amounts obtained.

Logically, option "D" is missing the final part. This would be: D. We are 95% confident that the mean amount spent on electric service among the 160 households is between $ 15.

This is the only true option, since the test is based on a sample of only 160 households, the entire population of households cannot be included.

Hence, the correct option is:

Option D. We are 95% confident that the mean amount spent on electric service among the 160 households is between $151 and $216.

7 0
3 years ago
A firm's dividend payments less any net new equity raised is referred to as the firm’s:a. operating cash flow.b. capital spendin
mojhsa [17]

Answer:

The correct answer is letter "E": cash flow to stockholders.

Explanation:

The cash flow to stockholders is the amount of money a firm pays to its debtholders and stockholders. It is calculating by subtracting the <em>dividends paid minus new equity</em> -if raised any. The Board of Directors determines the amount and the period to be considered for the dividends and if they are paid from the organization's current earnings or the reserve revenues.

3 0
3 years ago
This year Lloyd, a single taxpayer, estimates that his tax liability will be $11,350. Last year, his total tax liability was $15
Dmitrij [34]

Answer:

Lloyd needs to increase his witholding tax to $1,560 this year in order to avoid the underpayment penalty .

Explanation:

As a rule, a citizen can maintain a strategic distance from an underpayment of punishment if their retention and evaluated assessment installment measure up to or surpass one of the two safe harbours

90% of current expense risk = 90% × $11,350

= $10,215

100% of past assessment risk = $15,900

Since his(Lloyd) retention is not equal to or exceed $10,215 or $15,900

Llyod should expand retaining or make payment this year in order to stay away from underpayment punishment

= $10,215 - $8,655

= $1,560

3 0
3 years ago
What are accounts payable and accounts receivable?
Amiraneli [1.4K]

payable = money owed by a company to its creditors

receivable = money owed to a company by its debtors.

7 0
3 years ago
Read 2 more answers
Each language possesses a structure which must at some level influence the way its users view the world.
attashe74 [19]
The statement above is popularly referred to as Whorfian hypothesis. The hypothesis states that language directly affects the way people think about the world and the way they perceive it, thus it holds the idea that one's language determines one's conception of the world.
3 0
3 years ago
Other questions:
  • You are opening up a brand new retail strip mall. You presently have more potential retail outlets wanting to locate in your mal
    14·1 answer
  • Using reasonable safeguards to protect phi from being accidentally released to those who do not need access to the information d
    11·1 answer
  • Suzu, an employee of ridgeline credit union, deposits into her account checks entrusted to the credit union through its atm syst
    10·1 answer
  • The transportation model, when applied to location analysis: maximizes revenues. minimizes total fixed costs. minimizes total pr
    10·1 answer
  • Billie Bradford worked for the Kentucky Department of Community Based Services (DCBS). One of Bradford’s co-workers, Lisa Stande
    9·1 answer
  • management must be applied according to the needs of the organization. This implies that management is .....​
    15·1 answer
  • A central bank acts as a lender of last resort especially in times of financial crisis. What is the purpose of this function
    15·1 answer
  • The House manufacturers two different skateboard models. The company produces products using standardized production runs. The c
    13·1 answer
  • Economics!!
    8·1 answer
  • Record the entry to close the income summary assuming the partners agree to use plan c and net income is $460,500
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!