Answer:
The actual effective annual rate is <u>3.33%</u>.
Explanation:
Effective Annual Rate (EAR) refers to an interest rate has been adjusted for compounding over specified period of time.
Effective annual rate can therefore be described as the interest rate that paid to an investor in a year after compounding has been adjusted for.
Effective annual rate can be computed using the following formula:
EAR = [(1 + (i / n))^n] - 1 .............................(1)
Where;
i = Annual interest rate claimed by the dealer = 3.28%, or 0.0328
n = Number of compounding periods or months = 12
Substituting the values into equation (1), we have:
EAR = [(1 + (0.0328 / 12))^12] - 1 = 0.0332976137123635
EAR = 0.0333, or 3.33% approximately.
Therefore, the actual effective annual rate is <u>3.33%</u>.
Answer:
Yes, all. A non-exempt employee is eligible for overtime/compensatory time for hours in excess of 40 in a given week.
Answer:
The euro has gained strength against the dollar.
Explanation:
Exchange rate is a measure of the value of one countrie's currency compared with another. For example how many dollars can be exchanged for a euro.
Most exchange rates are free floating, meaning their value is determined by market forces (demand and supply).
Some countries however peg their currency value.
So in this scenario Thomas is giving more dollars for fewer euros because the euro has more value.
Answer:
Because this transaction MEET the control of the corporation requirement, Janice has income of $0 and Thom has income of $
Explanation:
Based on the information we were told that Thom provide service that is worth $40,000 which means that the amount of $40,000 is Thom income but we were not told that Janice has an income, which means that Janice will have an income of $0.
Hence, Because this transaction MEET the control of the corporation requirement, Janice has income of $0 and Thom has income of $
40,000.
Answer:
E) Yield to maturity < Coupon rate
Explanation:
As we all know that:
Bond's Yield = Coupon Payments / Market Price
If the market price has exceeded from the par value then the yield of bond will eventually fall from the previous level. In other words, as market value of bond is directly proportional to the coupon payments so we can say that the coupon rate increases the value of the bond.
Hence
Coupon rate > Yield to maturity (If the market value is above par value)
If we change the sign, we have:
Yield to maturity < Coupon rate (Which is the option E)
