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
Maurinko [17]
3 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]3 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%

You might be interested in
The assumption that is necessary for a linear programming model to be appropriate and that ensures that the value of the objecti
Elan Coil [88]

Answer:

A. Additivity

Explanation:

Additivity simply means that the values of an objective function and total resources used can be found by adding all the contributions made by the objective functions and the decision variables of all resources used. That is, it assumes that the overall of an objective function is found by adding the contribution of each objective function to the overall. In additivity, interaction between variables doesnt exist.

5 0
3 years ago
Read 2 more answers
Which technique of advertising shows that multiple consumers use a product to build consumer trust in the product? indirect ad b
mixas84 [53]
The indirect advertising does not directly advertise the product. Sponsorship is example of indirect ad.
The goal of the bandwagon ad is <span> to convince individual consumers that a product is worth purchasing.
Endorsement uses famous person for the advertisement of the product.
Promotional ad </span><span>includes special offers, cents off coupons, temporary price reductions ...
Endorsement is the technique </span><span>of advertising that shows that multiple consumers use a product to build consumer trust in the product.</span>
5 0
3 years ago
Read 2 more answers
Discuss the Sarbanes-Oxley Act 2002 and how it helps curb accounting fraud.
Soloha48 [4]

The Sarbanes-Oxley Act of 2002 was used to curb accounting fraud by improving financial disclosure of corporations, and checking and fixing frauds if they were found.

hope this helps

4 0
4 years ago
Read 2 more answers
A country with a relatively low level of real GDP per person is considering adopting two policies to promote economic growth.The
IceJOKER [234]

Answer:

The correct answer is the letter d. Neither the first nor the second.

Explanation:

GDP (gross domestic product) growth is influenced by various factors, consumption, investment, technology, external sector, etc. The policy of restricting foreign trade by placing barriers to trade has reduced GDP as it burdens one of the drivers of economic growth, for example by reducing exports to the rest of the world and thus GDP. Similarly, restricting foreign portfolio investment contributes to non-GDP growth, as foreign investments play an important role in increasing companies' capitalization, helping them to make more investments. Therefore, both economic policies are wrong.

4 0
4 years ago
True or false: A demand schedule is created from a demand curve.
-BARSIC- [3]
False, the demand curve is derived from a demand schedule.

The demand curve<span> is a graphical representation depicting the relationship between a commodity's </span>different<span> price levels and quantities which consumers are willing to buy. The </span>curve<span> can be derived from a </span>demand schedule<span>, which is essentially a table view of the price and quantity pairings that comprise the </span>demand curve<span>.</span>
8 0
3 years ago
Other questions:
  • Would you recommend that Apple raise or lower its price for the iWatch to increase​ revenue?
    6·1 answer
  • EZ Workout Inc. advertises Fit Step, an exercise machine, online. In its ads, EZ claims that the use of Fit Step measurably enha
    10·1 answer
  • The first step in developing a knowledge management system is to:
    14·1 answer
  • If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the
    8·1 answer
  • Henry lives in a country where the government gives many incentives to produce military goods and few incentives to produce cons
    14·2 answers
  • Suppose there are only two factors of production, labor and capital, and two goods, cloth and bicycles. a. The UK has 50M worker
    9·1 answer
  • Fred Flintlock wants to earn a total of 10% on his investments. He recently purchased shares of ABC stock at a price of $20 a sh
    5·1 answer
  • Which of the following is NOT an end goal of BOTH quality improvement programs and continuous process improvement? Select one: a
    9·1 answer
  • Data concerning Hinkson Corporation's single product appear below: Per Unit Percent of Sales Selling price $ 140 100 % Variable
    5·2 answers
  • The means by which the U.S. Bureau of Labor Statistics determines who is employed and unemployed is a ______.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!