Answer:
C
Step-by-step explanation:
This one sounds the most confident, being a call to action. It is good to end a thought with motion.
Answer:
2
Step-by-step explanation:
The trick here is to reduce each of the bases to lowest form first
1 - 3/5 = 5/5 - 3/5 = 2/5 = 0.4 = 40%
To get the effective interest rate (EIR) of the loan, determine first whether we will use a simple interest method or a discounted method. In this case, we will use a discounted method because the loan is a discounted one. In a discounted method, interest is deducted from the loan principal. So the formula will look like this:
EIR = Interest ÷ (Principal - Interest)
Before proceeding any further, solve first for interest. (assuming a 360-day year)
Interest = Principal × rate × interest
= $2950 × (100/360) × (0.085)
= $69.65
Thus, EIR can be computed as follows:
EIR = ($69.65 ÷ ($2950 - $69.65)) × 360
≈ 8.7%
Notice that the EIR was multiplied by 360 to return it to an annual rate.
It would be 7 because 2+2=4+4=8-1=7. Hope this helped.
