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geniusboy [140]
3 years ago
12

A man needed money to buy lawn equipment. He borrowed ​$700.00 for five months and paid ​$53.95 in interest. What was the rate o

f​ interest?
Business
1 answer:
Westkost [7]3 years ago
8 0

<u>Answer:</u> The rate of interest per year is 18.49 %.

<u>Explanation:</u>

To calculate the rate of interest, we use the equation:

\text{Interest paid}=\text{Amount borrowed}\times \text{Rate of interest}\times \text{Time}

where,

Interest paid = $ 53.95

Amount borrowed = $ 700

Rate of interest = ?

Time = 5 months = \frac{5}{12}    (Conversion factor: 1 yr = 12 months)

Putting values in above equation, we get:

\$53.95=\$700\times \text{Rate of interest}\times \frac{5}{12}\\\\\text{Rate of interest}=0.1849\times 100=18.49\%

Hence, the rate of interest per year is 18.49 %.

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Loss is the value of the economic surplus that is forgone when a market is not allowed to adjust to its competitive equilibrium.
avanturin [10]

Answer:

True (Dead-weight loss )

Explanation:

When the market is not allowed to adjust towards the equilibrium the economics efficiency is lost. When the supply is excessive compared to demand some part of supply remains intact, which means that small of amount of supply does not contribute to economics and allocation efficiency and considered as a dead-weight loss. The supply is forgone because the market is not allowed to stabilise.

7 0
3 years ago
What is austin's mileage expense deduction (at the standard mileage rate) for his business as a personal trainer?
Ugo [173]

Answer:

$1,653

Explanation:

Austin can only file a mileage expense deduction for the miles he drives for business purposes; only 2,850 miles were driven for business purposes from his to the gym. Miles driven from your home to work or vice versa are not deductible.

to calculate the mileage expense we multiply the amount of qualifying miles times the standard deduction rate = 2,850 miles x $0.58 per mile = $1,653

3 0
3 years ago
What is the angle (degrees) of the central and lateral limbs of a simple z-plasty that allows for transposition of the flaps, wi
muminat
This is not a business question. It's a health question. 

<span>The angle (degrees) of the central and lateral limbs of a simple z-plasty that allows for transposition of the flaps, with optimal balance between scar lengthening and skin flap ease of closure with minimal tension is 60</span>°.

60° z-plasty is the typical angle but there are z-plasties available that have 45° and 30° angles of their central and lateral limbs. 

The purposes of the z-plasty are:
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8 0
3 years ago
The owner of a restaurant is an example of ______ while the waiter at the restaurant is an example of _____
damaskus [11]
The answer would be the last choice
5 0
3 years ago
Over the last two years, an american clothing company has partnered with a manufacturer in china to make clothes at a cheaper co
Trava [24]

The mutual benefit that the American Clothing Company derives by partnering with a Chinese Manufacturer comes because <u>E. It is</u> an example of counter-trading ...

<h3>What is Counter-trading?</h3>

Counter-trading occurs when goods or services are exchanged for other goods or services rather than for hard currency.  It is a reciprocal form of international trade in which, for example, the American Clothing Company brings in its technology while the Chinese Manufacturer provides cheap labor and other resources.

<h3>Answer Options:</h3>

A. It is a strategic alliance in which two countries share the risks and rewards of starting a new enterprise together in a foreign country.

B. It is a wholly owned subsidiary in which a foreign subsidiary is totally owned and controlled by an organization.

C. It is a greenfield venture in which owning the organization has been built from scratch.

D. It is an example of a franchise in which a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company’s brand name and a package of materials and services.

E. It is an example of counter-trading in which the country is bartering for goods.

Thus, the counter-trade between these companies is mutually beneficial because of <u>Option E</u>.

Learn more about counter-trading at brainly.com/question/14659049

6 0
3 years ago
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