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
zepelin [54]
4 years ago
7

Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the

APR is stated to be 24.25%, with interest paid monthly. what is the card's EFF%?
a. 33.11%



b. 21.44%



c. 20.35%



d. 27.14%



e. 23.34%
Business
2 answers:
Sever21 [200]4 years ago
8 0

Answer: D. 27.14%

Explanation:

The EFF% or (Effective annual rate) is calculated thus:

Recall :

EFF% = [ (1 + (r/n))^n] - 1

Annual percentage rate (APR) = Nominal rate (r) = 24.25 % = 0.2425

Period(n) = 12 months

In outing the values :

EFF% = [ (1 + (0.2425/12))^12] - 1

EFF% = [ 1 + (1.02020833)^12] - 1

EFF% = 1.271353 - 1

EFF% = 0.271353

EFF = 0.271353 × 100

EFF = 27.14%

Papessa [141]4 years ago
6 0

Answer:

27.14%  

Explanation:

EFF ( effective annual interest rate) = ( 1 + ( rate / number of periods)^n -1 = ( 1 + ( 0.2425 / 12)^12 -1 = 0.2714 = 27.14%  where rate = 24.25% and number of periods = 12 months

You might be interested in
Swansea Finishing produces and sells a decorative pillow for $100.00 per unit. In the first month of operation, 2,000 units were
Cloud [144]

Answer:

$41,400

Explanation:

Swansea Finishing

Variable cost of goods sold = Variable manufacturing costs × Units Sold

Variable manufacturing costs $23.00

Units sold $1,800

Hence:

$23.00 × 1,800 units

= $41,400

Therefore the cost of goods sold using variable costing is $41,400

6 0
3 years ago
Can someone sell a car that is not registered to their name
postnew [5]
No. Someone can not sell a car legally if it is not registered to their name.
5 0
3 years ago
Shuai is writing a report with a great deal of complicated numerical information. to clarify and simplify this information for d
AveGali [126]

She should put this into a chart or graph. This is a graphical illustration of data, in which "the data is characterized by symbols.” By organizing data, it can be more effortlessly understand what has been perceived. Subsequently, most of the data is quantitative, data tables and charts are typically used to consolidate the information. Graphs are shaped from those data tables.

6 0
3 years ago
An investment banker who earns more than $1 million a year, a food service worker who makes minimum wage, and a teacher with a s
Ivenika [448]

An investment banker who earns more than $1 million a year, a food service worker who makes minimum wage, and a teacher with a salary of $50,000 per year represent the presence of social <u>inequality </u>within society.

<h3>What is inequality?</h3>

Inequality can be defined as the way in which  income or wealth are not distributed equally  in a society as some people earn more than others.

Hence, their is the presence of social inequality within a society if a  investment banker earn $1 million a year, a food service worker makes minimum wage, and a teacher earn $50,000 per year.

Learn more about inequality here:brainly.com/question/24143597

#SPJ1

5 0
2 years ago
Organizational objectives should do all of the followinjg except
gogolik [260]
I would say be unclean, they cant be unclean
8 0
3 years ago
Other questions:
  • A business model describes how a company​ produces, delivers, and sells a product or service to create wealth.
    6·1 answer
  • About this app<br> What is the benefit of this app
    6·2 answers
  • To what amount will ​$4 comma 900 invested for 9 years at 10 percent compounded annually​ accumulate?
    12·1 answer
  • Identification of problems is challenging. What portion of an MIS system would make managers aware of promotions that are cannib
    6·1 answer
  • True or False: If a firm changes its credit policy and allows customers to pay in 90 days instead of 60 days, and everything els
    13·1 answer
  • The price quotations of Treasury bonds in the Wall Street Journal show an ask price of 104.25 and a bid price of 104.125.
    9·1 answer
  • Why can it be a negative for the US if the dollar is too 'strong' ?
    13·2 answers
  • Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs
    5·2 answers
  • Your company's health insurance plan costs $585 per employee per month. There are 64 employees. Another health insurance company
    10·1 answer
  • Can we talk about the political and economic state of the world right now
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!