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
Blababa [14]
3 years ago
8

What is the effective annual rate​ (EAR) of a mortgage that is advertised at 8.5​% ​(APR) over the next twenty years and paid wi

th weekly ​payments? What is the effective annual rate​ (EAR) of the mortgage at 8.5​% APR with weekly ​payments? nothing​% ​(Round to two decimal​ places.)
Business
1 answer:
svp [43]3 years ago
7 0

Answer:

1. What is the effective annual rate​ (EAR) of a mortgage that is advertised at 8.5​% ​(APR) over the next twenty years and paid with weekly ​payments?

8.87%

2. What is the effective annual rate​ (EAR) of the mortgage at 8.5​% APR with weekly ​payments? nothing​% ​(Round to two decimal​ places.)

8.86%

Explanation:

1.

APR = 8.5%

Weekly Payment

Number of years = 20

m = 52 x 20 = 1040

EAR = ( 1 + ( 0.085 / 1040 )^1040)-1

EAR = 0.0887

EAR = 8.87%

2.

APR = 8.5%

Weekly Payment

Number of years = 1

m = 52 x 1 = 52

EAR = ( 1 + ( 0.085 / 52 )^52 ) - 1

EAR = 0.0886

EAR = 8.86%

You might be interested in
A firm had after-tax income last year of $3.0 million. Its depreciation expenses were $0.6 million, and its total cash flow was
Maksim231197 [3]

Answer:

566665322223ggaaqdvhue

5 0
2 years ago
Assume that skilled labor costs twice as much as unskilled labor, a profit-maximizing firm will
N76 [4]

Assume that skilled labor costs twice as much as unskilled labor, a profit maximizing firm will hire until the marginal product of unskilled labor is half that of skilled labor.

A profit maximizing firm is a firm that tries to create products that are of good quality at the barest or smallest cost.

The marginal product falls after an additional amount of the resource has been added. It is the extra amount that is gained due to the addition of an extra unit.

Due to the fact that both the skilled and unskilled would decrease eventually, the company would have to hire both at equal marginal products.

Read more on brainly.com/question/25706143

4 0
2 years ago
Considering contributing $1,000 to their church. This contribution will bring their total itemized deductions to $2,000. Assumin
mafiozo [28]

Answer:

b. $150

Explanation:

Standard deduction refers to deduction available to an individual at a flat rate say 30%.Whereas in itemized deductions, an individual can claim deductions at different rates on different items.

Usually itemized deductions are more beneficial to an individual and in case tax saving in these cases exceeds total standard deductions, itemized deductions should be preferred.

In the given case, contribution of $1000 to church shall amount to a deduction. Since the tax rate applicable to the individual is 15%, the savings in tax shall amount to 15% of $1000 i.e $150.

4 0
3 years ago
Which is a short-term consequence of making a late payment on your bill
AysviL [449]

Answer:

Which is a short-term consequence of making a late payment on your bill? There will be a late fee added to the bill.

8 0
3 years ago
Mark is an excellent cook. He does not have any formal training but learned to cook by following the recipes of several famous c
Katarina [22]
A invisible hand is the answer.
3 0
3 years ago
Read 2 more answers
Other questions:
  • Hawk-Dove (or Chicken) (t = tough, c = concede)
    14·1 answer
  • Sellers of a good bear the larger share of the tax burden when a tax is placed on a product for which the (i) supply is more ela
    8·1 answer
  • Question help an employee has gross earnings of​ $2,000 with withholdings of​ 6.2% ficaminus−​oasdi, 1.45​ % ficaminus−​medicare
    12·1 answer
  • How to calculate WACC using the CAPM​
    7·1 answer
  • A bond is aa.financial intermediary. b.certificate of indebtedness. c.certificate of partial ownership in an enterprise. d.None
    9·1 answer
  • A client is admitted to an acute care facility after an episode of status epilepticus. After the client is stabilized, which fac
    8·1 answer
  • A company sells a plant asset that originally cost $300,000 for $100,000 on December 31, 2012. The accumulated depreciation acco
    15·1 answer
  • Please help it’s a final
    8·1 answer
  • The following transactions occur for Cardinal Music Academy during the month of October: Provide music lessons to students for $
    5·1 answer
  • In a television ad for Teeny Toddler baby powder, a celebrity informs the audiences that the product helps keep a baby's skin dr
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!