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Harrizon [31]
3 years ago
6

Shelly Sanders gets a loan for $3,000 and repays the loan in 12 monthly payments of $258 per month. Under the APR formula, what

is the amount of interest included in her first payment?
Business
2 answers:
posledela3 years ago
6 0

Answer:

$8

Explanation:

Annual percentage rate (APR) is the annual rate charged for borrowing a loan.APR does not take into account compounding of interest.

Workings

Loan amount: $3,000

Repayment period : 12 months

Monthly repayment : $258

Total repayment value : $258*12=$3096

Interest Value : $3000-$3096 = $96

APR : 96/3000*100 = 3.2%

1st month interest = 3.2% * 3000/12 = $8

alexandr402 [8]3 years ago
4 0

Answer: $8

Explanation:

Total loan is $3,000

Monthly instalments of $258

Tenor of 12 months

Total interest paid on loan = $258 x 12= $3,096

Interest = $3,096 - $3,000 = $96

Apr = $96/$3000= 0.032

= 0.032 x 100

= 3.2% annual rate

= 3000 x 3.2%

= 96/12 = $8

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Top 5 industries in Houston:

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3 years ago
For the past few months, Denver Framing has experienced high employee turnover. After investigating, human resource manager Kyle
alekssr [168]

Answer:

b.)State the primary message; lay out supporting reasons; conclude with a call to action.

Explanation:

These are options for the question

a.State the primary message; give the call to action; lay out the supporting reasons.

b.State the primary message; lay out supporting reasons; conclude with a call to action.

c.Start with a call to action; lay out the supporting reasons; conclude with the primary message.

d.Start with a call to action; state the primary message; lay out the supporting reasons.

e.Lay out the supporting reasons in careful order; state the primary message.

From the question we are informed about Denver, For the past few months, His Framing has experienced high employee turnover. After investigating, human resource manager Kyle discovered that most employees are unhappy with their salaries and therefore unmotivated to work. Kyle plans to craft a message using the direct approach. In this case he should have a structure whereby he would ; ✓State the primary message

✓lay out supporting reasons

✓conclude with a call to action.

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2 years ago
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katen-ka-za [31]

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