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
Discuss how geographics can influence consumer purchasing decisions
OLga [1]
A surf board shop for example. If you lived in a place like Ohio you’re not gonna have very many sales because there’s no ocean or surf parks near by. But if you lived somewhere like California you’re sales would be much better.
8 0
3 years ago
What differences and similarities exist between monopolistic competitive firms and perfect competitive firms?
astraxan [27]

Answer:

In perfect competition, the product offered is standardized whereas in monopolistic competition product differentiation is there. In monopolistic competition, every firm offers products at its own price. ... Entry and Exit are comparatively easy in perfect competition than in monopolistic competition.

Explanation:

(hope this helps)

4 0
3 years ago
Terminating an employee for the use of illegal drugs is an example of a(n) _____ turnover. retentive external voluntary absentee
klasskru [66]

Answer:

involuntary

Explanation:

Involuntary turnover happens when an employee is dismissed from a position and asked to leave. In that respect, employees may be expelled for several reasons, usually for deficient performance and inadequate behavior. In contrast, voluntary turnover occurs when employees quit and the company wishes to keep them.

3 0
3 years ago
Select the statements that describe working with text in presentation programs.
kykrilka [37]
Here are the statements that describe working with text in presentation programs: 1. Working with text in presentation programs is similar to working with text in other applications. 3. Audience size influences font size. and; <span>4. Font size and font color can be changed in presentations. Hope this helps.
</span>
3 0
3 years ago
Read 2 more answers
​Jane and Smith are considering the purchase of a home in downtown Minneapolis. They approached Larson's Mortgagers Inc. to arra
dmitriy555 [2]

Answer:

prequalification

Explanation:

<em>Prequalification</em> is used as an initial assessment of the applicant's ability to access a loan. Prequalification is used in a mortgage process, to give people who run the loan a general idea of ​​how much a person can borrow and for what type of loan terms they could qualify.

5 0
3 years ago
Other questions:
  • A decision in which a manager needs to determine whether a product line (or segment) should continue or be eliminated is what ki
    12·1 answer
  • In a general partnership, if one partners actions cause the firm losses, then
    10·1 answer
  • If actual sales totaled $450,000 for the current year (30,000 units at $15 each) and planned sales were $540,000 (45,000 units a
    15·1 answer
  • Use the following quotation to answer the question.“If men were angels, no government would be necessary.” —James Madison, Feder
    13·1 answer
  • Johnson Controls reached beyond selling climate-control equipment and components by selling the service of managing facilities i
    10·1 answer
  • Needs refer to a person's relationship with other people
    9·1 answer
  • Explain the importance of decision making in management
    12·1 answer
  • A corporation declares $25 million in net income, $1 million in preferred stock dividends, and $7 million in common stock divide
    8·1 answer
  • Presented below are certain account balances of Martinez Products Co.
    8·1 answer
  • Marginal cost is defined as:________.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!