Answer: Explicit costs , Implicit cost.
Explicit Costs is an Input costs that require an outlay of money by the firm. e.g (Paying for supplies, paying workers).
Implicit Costs is an Input costs that do not require outlay of money by the firm. e.g (Could be working somewhere else and making money but giving up the money you could be making because of where you work now).
Answer: 12.47%
Explanation:
First convert the APR to the relevant periodic rate.
The compounding is done daily so the periodic rate is:
= 11.75%/365
Effective Annual rate is calculated by the formula:
= ( 1 + periodic rate) ^ compounding period per year - 1
= ( 1 + 11.75%/365)³⁶⁵ - 1
= 12.47%
A enlist in the military. If you enlist in the US military they will cover the costs of your education
