Answer:
James' credit union loan rate is 8.88% APR, the local bank loan rate is 9.34% APR.
Explanation:
Hi, since in both cases payments would be done in a monthly basis, we have to assume that the rate that we are looking for is APR (compounded monthly), and since there is no additional information in regards that 9.25% rate, we can assume that this is effective annually, so let´s convert this effective monthly rate into APR (compounded monthly)
First, we have to convert it into an effective monthly rate, that is:
Then we multiply by 12 and we get 0,088796 , which is 8.88% APR (compounded monthly)
This way James can compare both credits. The cheaper loan is from the credit union.
The answer would be true. The reason for that is because excel automatically saves what you added on the sheet.
The formula is
I=prt
I interest due ?
P principle 3500
R interest rate 0.05
T time 1 year
I=3,500×0.05×1
I=175
Answer:
A factor company
Explanation:
A factor company is a finance company that specializes in purchasing company's accounts receivable,then goes ahead to collect the balances from the customers for a fee.
A factor company sometimes does this with a recourse to the company whose receivable has been factored or without a recourse.
With a recourse means that any accounts receivable balance uncollected would be transferred to the original company while without a recourse is the opposite situation
Answer:
a. Opportunity #1
Explanation:
Opportunity #1 is best suited to Madison according to her preference. She has goal to become an actor in the long term. In the opportunity #1 she can take roles at community theater. This will enhance her skills and add up to her experience. She can learn from her experience at the theater and broaden her acting experience. She can also network with the peers in the theater and she can learn from them also.
