Me and my sister are in high school, and need tutoring in geometry and algebra 2, could she help?
People a rude just putting in random letters like “e”
<span>Acquisition or Procurement is the means on how equipment is bought for businesses and the military. However for peoples own personal use, shopping is the more common everyday word.</span>
I think the answer is d since the first 2 options are true
Answer:
22.13%
Explanation:
The effective annual rate formula below can be used to determine the actual rate charged by the bank as follows:
Effective annual rate=(1+APR/n)^n-1
APR=20%
n=number of times interest is computed yearly=365
Effective annual rate=(1+20%/365)^365-1
Effective annual rate=1.221335858
-1
Effective annual rate=22.13%
The actual rate of interest on bank loan is 22.13%