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
-2x^2y, if x=-3 and y=-1
REY [17]
It would be 6 because -2x-3= 6 and the exponent comes out to one so 6 times nothing is 6. :)
3 0
3 years ago
Insurance is the way a person or business is protected from :
nevsk [136]

Answer:

losing money

Explanation:

Helps save you from the out of pocket expense if something bad were to happen.

For example if your roof was damaged by a natural disaster it could cost thousnads of dollars out of a persons pocket.

Insurance will pay the cost to repair it allowing you to be protected from losing money.

3 0
3 years ago
Most organizations spend more time and money on the systems ________ phase than on any of the other phases. Group of answer choi
mariarad [96]

Answer:

maintenance phase

Explanation:

Maintenance phase -

It refers to the phase of making the changes in the software , hardware and documentation to improve the operations effectively , is referred to as the maintenance phase .

The phase is important , as it enhances the efficiency and corrects the problem .

The company or the organisation tries to invest the maximum amount in the maintenance phase .

Hence , from the given statement of the question,

The correct option is maintenance phase .

6 0
3 years ago
What did surprise you in personalities
hjlf

Personalities


Personalities all vary from person to person. Depending on what the persons backround is and what theyve seen and gone through there personalities differentiate from each other.

5 0
3 years ago
16) When supply is fixed or the product is unique, then price is A) supply determined. B) demand determined. C) government deter
Rudiy27

Answer: B) demand determined.

Explanation:

If the supply of a good is fixed or the product is of a unique kind, the price of the good will be determined by the amount of demand for it.

Normally supply can change based on the quantity demanded which will impact prices but if the supply is definite, this means that the supply curve is inelastic and the only curve that can affect price therefore is the demand curve.

If more people demand the good, it will increase in price and if less people demand it, it will fall in price.

3 0
3 years ago
Other questions:
  • Homer has decided to buy a trampoline. the trampoline costs $2000.00. he borrows the money from the springfield bank at an inter
    10·1 answer
  • Which type of financial statement should you look at if you want to see a company's profits and losses over a specific period of
    8·2 answers
  • A good system of internal controls requires that the physical custody of assets be separated from the accounting for those asset
    8·1 answer
  • What is the first step involved in developing and implementing a social media marketing campaign?
    15·1 answer
  • On July 4, Cullumber's Restaurant accepts a Visa card for a $1,350 dinner bill. Visa charges a 2% service fee. Prepare the entry
    14·1 answer
  • Based on M&M Proposition 2 with taxes, the weighted average cost of capital:
    6·1 answer
  • Van Den Borsh Corp. has annual sales of $68,735,000, an average inventory level of $15,012,000, and average accounts receivable
    7·1 answer
  • The exchange rate for converting the U.S. dollar into other currencies is continuously adjusted depending on the laws of supply
    13·1 answer
  • The following selected transactions were taken from the records of Rustic Tables Company for the year ending December 31: June 8
    11·1 answer
  • you want to buy a new car, but you can make an initial payment of only $2,400 and can afford monthly payments of at most $500.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!