Answer:
Effective annual interest rate=0.52%
Explanation:
Step 1: Express the formula for calculating interest
The formula for calculating interest can be expressed as;
I=PRT
where;
P=principal amount borrowed
R=annual interest rate as a percentage
T=number of years
Step 2: Determine the value of the variables P, R and T
In our case;
I=$10
P=(125-10)=$115
R=unknown=r
T=2 months=2/12=1/6 years
replacing in the expression;
10=115×r×(2/12)
10=(230/12)r
r=10×12/230=0.5217
0.5217 rounded off to the nearest 2 decimal places is:
r=0.52%
Effective annual interest rate=0.52%
The correct answer is : B. Microcredit Loans
Microcredit loans are usually a very small loans to impoverished who usually does not have enough collateral or steady source of income/ Since the west and central Africans live way below poverty border, Microcredits is one of the best way to improve their economy.
Answer: Option (B) is correct.
Explanation:
The nominal GDP is equal to the real GDP in the base year, that's why GDP deflator in the base year is equal to 100.
GDP deflator is calculated as the nominal GDP divided by the real GDP multiply by 100. It is shown as:
GDP deflator =
GDP deflator would be used as the conversion factor that transformed the real GDP into nominal GDP.
Answer:
$61,500
Explanation:
Based on the information given if the company
issues 4,100 shares of common stock for the amount of $131,200 in which the stock has a stated value of $15 per share which means that The journal entry to record the stock issuance would include a credit to Common Stock for $61,500 Calculated as:
Credit to Common Stock=4,100 shares*$15 per share
Credit to Common Stock=$61,500