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Bingel [31]
3 years ago
10

you borrowed $4 from your roomate to buy backup calculator batteries on the way to the exam. the next day, you repaid the $4 plu

s an addition 1 cent in interest to your roomate. Express this interest that you paid your roommate in EAR
Business
1 answer:
LiRa [457]3 years ago
3 0

Answer:

0.2840 or 28.40%

Explanation:

The formula for EAR= (1 + i/n)^n - 1

Where i= stated interest rate

n= number of compounding periods

In this case since the interest he paid is 1 cent, to convert it into percentage, we divide it by the dollar and multiply by 100

Note: 100 cent = 1 dollar

Therefore 4 dollars= 400 cents

To get the Interest rates= 1/400 x 100

= 0.25

n= 365 since we are computing daily

(1 + 0.25/365)^365 - 1

(1 + 0.000685)^365 - 1

(1.000685)^365 - 1

1.2840 - 1

0.2840 or 28.40%.

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Answer:

Blogs

Explanation:

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The most recent posts appear first in the website.

Mint has used blogs to provide relevant information to users.

Search engines analyse the contents of websites to determine of they are relevant sources of information.

Mint's blogs have help search engines identify the company as a relevant source of personal financial topics

8 0
3 years ago
Jerry deposited $10,000 in a bank account, and 10 years later he closes out the account, which is worth $18,000. The annual rate
MArishka [77]

Answer:

<h2>r=  6.054% per year</h2>

Explanation:

given that

principal P=  $10,000

final amount A= $18,000

time t= 10 years

To find the annual rate we will use the formula below and solve for r

r = [(\frac{A}{P} )^\frac{1}{t}  - 1]

Substituting our data into the expression and solving for r we have

r = [(\frac{18000}{10000} )^\frac{1}{10}  - 1]\\\\r = [(1.8 )^\frac{1}{10}  - 1]\\\\r = [(1.8 )^0^.^1  - 1]\\\\r = [(1.8 )^0^.^1  - 1]\\r={1.06054-1}\\\\r= 0.06054  

Calculate rate of interest in percent

r = 0.06054* 100

r=  6.054% per year

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If you write a check for $4,000 to buy a car when you have only $57.18 in your checking account (and no overdraft protection), w
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You will have a negative amount of moneyz in your checking account.(You will owe moneyz)
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Answer:

D) $62.57

Explanation:

One should be willing to pay the intrinsic value or fair price, computed using the present value of dividends

Intrinsic value or fair Price = 2.3/1.14 + 2.645/1.14^2 + 3.04/1.14^3 + (3.04*(1+10%)/(14%-10%))/1.14^3

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Therefore, You should be willing to pay $62.57 for this stock.

3 0
3 years ago
Laura is self-employed. She received a Form 1099-MISC from one of the firms for which she ployee compensation. The other firm fo
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Answer:

b)$24,600

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please see attachment

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