The annual percentage yield on Monty's default or penalty rate equals to 42.58%.
<h3>What is the meaning of APY?</h3>
APY is an acronym for Annual percentage yield.
The percentage yield referred to the real rate of return that is earned on an investment after taking into account the effect of compounding interest.
Given that the Visa card has an original default or penalty rate of 36%, the annual percentage yield on Monty's default or penalty rate equals to 42.58%.
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Answer:
C) When he begins advertising the availability of the investment advisory services.
Explanation:
The Investment Advisor Act of 1940 states that an individual is subject to regulation as an investment advisor if the individual gives investment advice and advertises himself/herself as offering such investment advisor services.
In this case, the moment Ken begins advertising his advisor service, he is subject to regulation under the Investment Advisor Act of 1940.
a, since twenty-seven should say 27 or twenty seven without a dash
Answer:
For Loan A = 3.170%
For Loan B = 3.174%
Loan B has a higher effective annual rate.
Explanation:
The computation of effective annual rates for the loans is shown below:-
For Loan A
We will assume effective annual rate is a
Stated rate(r) = 3.125% compounded monthly
= Number of periods in an year n = 12
So,
(1 + a) = (1 + r ÷ n) × n
= a = (1+0.03125 ÷ 12) × 12 - 1
= 0.03170
or
= 3.170%
For Loan B
We will assume the effective annual rate is b
Stated rate (r) = 3.15% compounded semi annually
= Number of periods in an year n = 2
So
(1 + a) = (1 + r ÷ n) × n
= a = (1 + 0.0315 ÷ 2) × 2 - 1
= 0.03174
or
= 3.174%
From the above calculation we can see that Loan B, is greater than Loan A and has a higher effective annual rate.
