1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
The public relations function can be handled by an internal public relations officer or department or by an external public rela
SVEN [57.7K]

The company leaders make the decision of who will handle various public relations activities.

<h3>What are public relations?</h3>

Public relations specialists work to change how the general public views their clients' brands, reputations, or images. Unlike advertisers, public relations specialists convince for or earn good talk about their clients or organizations.

Public relations experts employ a variety of strategies to achieve their goals and uphold the organization's favorable reputation in the public eye. These strategies can all be employed as a component of an effective public relations plan even if they each have various uses and overlap. When necessary, a skilled, qualified PR expert will make use of all of them or a mix of them.

Learn more about public relations here:

brainly.com/question/20313749

#SPJ4

7 0
1 year ago
A business impact analysis (BIA) identifies threats, vulnerabilities, and potential attacks to determine what controls can prote
Anna11 [10]

Answer:

The correct answer is: False.

Explanation:

To begin with, the name of <em>"Business Impact Analysis"</em> or BIA, in the field of business, refers to the strategy or process that focus on the analysis of the organization when an emergency happens and to see how that surprise event has affected the company's operations. So that is why that this method determines and evaluates all the potential effects that the disaster had on the structure of the organization and how that impact could be resolve by the managers and the whole crew of employees.

7 0
2 years ago
In the context of intraorganizational processes, _____ are characterized by broadly defined jobs and responsibilities; loosely d
Dmitriy789 [7]

Answer:

organic organizations

Explanation:

Organic organization -

This type of organisation was given by George Stalker and Tom Burns .

It refers to the type of organisation , which is can alter and adapt to the changes easily , there is very less job specialization , no proper centralized decision - making process , and not proper direct supervision , is referred to as an organic organisation .

Hence , from the given information of the question ,

The correct term is organic organisation .

4 0
2 years ago
Serine wants to improve her knowledge about stocks. Which statement will help her understand the effect of demand and supply on
Serga [27]

Answer:

B

Explanation:

7 0
2 years ago
Read 2 more answers
Hey I really need help with this one<br> May be a good guess
mojhsa [17]

Answer:

2

Explanation:

4 0
3 years ago
Other questions:
  • On January 1, 2021, McGee Co. had the following balances: Projected benefit obligation $7,800,000 Fair value of plan assets 7,80
    7·1 answer
  • The management software for your sound card has just downloaded and installed the latest driver for your sound card. After a reb
    5·1 answer
  • Using the 20/10 rule, calculate the maximum amount to borrow if your net yearly income is $75,000
    10·1 answer
  • if the federal Reserve buys 40000 in treasury bonds from a bank at 6% interest what is the immediate effect on the money supply
    15·2 answers
  • As discussed in your textbook, the list of calls for police service in long beach, california, shows which type of call for serv
    9·1 answer
  • Define the term partnership as a type of business
    11·1 answer
  • What effect will a low economic growth have on the country
    13·1 answer
  • Which of the following situations may qualify a taxpayer to claim an education credit on their tax return? g
    7·1 answer
  • An unexpected increase in aggregate demand typically causes
    14·1 answer
  • if i open a contract near market closing then close the contract next day does that count as day trade
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!