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Misha Larkins [42]
3 years ago
6

-Ricky Ripov’s Pawn Shop charges an interest rate of 15.25 percent per month on loans to its customers. Like all lenders, Ricky

must report an APR to consumers.
What rate should the shop report? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Annual percentage rate %

What is the effective annual rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Effective annual rate %
Business
1 answer:
yuradex [85]3 years ago
6 0

Answer:

183.00%

449.15%

Explanation:

The computation of annual percentage rate and the effective annual rate  shown below:

Annual percentage rate is

= Interest rate per month × Total Number of months  in a year

= 15.25% × 12  months

= 183.00%

The effective annual rate is

= (1 + nominal interest rate ÷ periods)^ number of period - 1

= (1 + 15.25% ÷ 12)^12 - 1

= 449.15%

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OLga [1]

Answer:

$70,100

Explanation:

The computation of the equipment recorded on a balance sheet is shown below:

= Purchase of new equipment + transportation cost + sales tax paid + installation cost

= $58,500 + $2,700 + $4,700 + $4,200

= $70,100

We simply added the above four items so that the recorded value of an equipment could come

7 0
3 years ago
Kevin analyzes the quarterly earnings statements of some fifty obscure small-cap stocks. He then buys according to the earnings
mamaluj [8]

Answer:

Semi-strong form efficiency.

Explanation:

Semi-strong form efficiency contends that security prices have factored in publicly-available market and that price changes to new equilibrium levels are reflections of that information. It is considered the most practical of all Efficient Market Hypothesis(EMH) hypotheses but is unable to explain the context for material nonpublic information (MNPI). It concludes that neither fundamental nor technical analysis can be used to achieve superior gains and suggests that only MNPI would benefit investors seeking to earn above average returns on investments.

6 0
2 years ago
Thomas Martin receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 hours during a week
baherus [9]

<u>Answer:</u> $735

<u>Explanation:</u>

Calculation of regular earnings

Earnings at regular rate= Wage rate per hour x hours of work

= (15 x 40)

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The gross pay for martin is $735. The other deductions are made in the gross pay to arrive at the net pay. Deductions such as federal income tax, security tax rate and medicare tax rate is deducted from gross pay to find net pay.

5 0
3 years ago
Allie is having three friends over to order pizza and watch a movie that just came out on DVD. She wants to make sure that she i
Lana71 [14]

Hey there,

Allie could look up coupon and discount deals for the pizza. She could ask each of her friends to chip in a small amount of money to help with the costs. Another thing she could do is compare the prices of DVD's from various stores.

:)

4 0
3 years ago
Read 2 more answers
Which of these statements best represents the law of supply?
Dafna1 [17]

Answer:

The correct answer would be option C, When the price of a good decreases, sellers produce less of the good.

Explanation:

According to the law of supply, when the price of the product increases, the quantity supplied also increases.

This theory suggests that there is a direct relationship between the price of the product and the quantity supplied of the product. So when the price of a good decreases, sellers produce less of the good.

6 0
3 years ago
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