It would take 95 days for Kaleb to get his desired APR.
Since Kaleb wants to get a payday loan in the amount of $ 375, and he is hoping to find one that has an APR of 40%, if Kaleb finds a business that charges a fee of $ 37 for the loan, to determine what the term of the loan need to be in order for Kaleb to get his desired APR, the following calculation must be performed:
- APR = 37/375 x 365
- APR = 0.098 x 365
- APR = 36
- 100 = 365
- 36 = X
- 36 x 365/100 = X
- 13140/100 = X
- 131.4 = X
- 131.4 - 37 = 94.4
Therefore, it would take 95 days for Kaleb to get his desired APR.
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Answer:
Total Revenues would increase because Demand is Inelastic
Explanation:
Demand is buyers ability & willingness to buy at a given price, time.
Elasticity of Demand is quantity demanded responsiveness to price change.
More Elastic Demand means quantity demanded responds highly to change in price. Percentage Change in Quantity Demanded > Percentage Change in Price. Elasticity of Demand [Δ%Q / Δ%P] >1 in this case. Price and Total Revenue (PxQ) are inversely related in this case ; i.e - price rise, TR fall & price fall, TR rise.
Less Elastic Demand means quantity demanded responds less to change in price. Percentage Change in Quantity Demanded < Percentage Change in Price. Elasticity of Demand [Δ%Q / Δ%P] < 1 in this case. Price and Total Revenue (PxQ) are positively related in this case ; i.e - price rise, TR rise & price fall, TR fall.
So: If Sam's Pint price change by 20% leads to demand fall by 4%, the demand is less elastic i.e < 1. Hence, Total Revenue will increase with increase in price.
Answer:
Business objectives are something which a business organisation wants to achieve or accomplish over a specified period of time. These may be to earn profit for its growth and development, to provide quality goods to its customers, to protect the environment, etc.
Answer:
D. The growth of Mini - Multinationals
Explanation:
Mini-multinationals are companies or organisations that carry out their business in two or more countries but are still within the definition of small and medium sized organisations.
Initially before the advent of the computer and the accelerated advancement of globalisation only standardized multinationals based on large firms and corporations were able to carry out business across several countries. However, globalisation as well as the rapid advancement of information technology has made tools of business available such that even small or medium sized firms can become multinationals.
For instance, the availability of an e-market and fast delivery methods makes it possible for a local shoe seller to transact businesses across two or more countries. This is defined as a mini-multinational
