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Maurinko [17]
2 years ago
8

A student bought a $75 used guitar and agreed to pay for it with a single $80 payment at the end of 3 months. What is the nomina

l annual interest rate? What is the effective interest rate?
Business
1 answer:
Wewaii [24]2 years ago
8 0

Answer:

29.5%

Explanation:

Effective interest rate is the actual interest rate that a investor receives on invesment or a borrower pays on loan including the compounding effect.

APR = (80 - 75) / 75 = 0.067 = 6.67%

Effective interest rate = ( 1 + APR )^n - 1

Effective interest rate = ( 1 + 6.67% )^4 - 1

Effective interest rate = ( 1.0667 )^4 - 1

Effective interest rate = 1.2947 - 1

Effective interest rate = 0.2947

Effective interest rate = 29.5%

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Affirmative Action is a policy which function by favouring the cause of disadvantaged set of people who are suffering or had suffered from discrimination within a community. The group was established in the 1960s. The major goals of this group is to: close the gaps of employment inequalities and pay, increase access to education, promote diversity and address past injustices. Affirmative Action had produced both positive and negative outcomes. Positive outcomes include: closing the gaps in employment eligibility and payment, increasing number of people having access to education and promotion of diversity. Negative outcomes include: driving away of skilled labour which resulted in poor economic growth and mismatching of skills.
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3 years ago
Suppose the economy goes from a point on its production possibilities frontier (PPF) to a point directly to the left of it. Assu
yanalaym [24]

Answer:

new law that interfaces with productive efficiency.

Explanation:

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I hope my answer helps you

4 0
2 years ago
Culver owns 80 percent of the common stock of Fowler Company. Culver also purchases some of Fowler's bonds directly from Fowler
ratelena [41]

Answer:

c

Explanation:

3 0
3 years ago
Zibb is a transnational electronics company based in Germany. It has factories in China, Mexico, and India. The company aims to
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I hope this helped out, have a nice day! :)
5 0
2 years ago
Making a prediction today about the​ world's population in twenty years based on current growth trends is an example of ▼ normat
iragen [17]

Answer: Positive, Normative

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Making a prediction today about the​ world's population in twenty years <em>based on current growth trends</em> is an example of <em>positive economics</em>.

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3 years ago
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