Nicholas makes $2,000 per month.He spends $300 on credit card payments and $350 on an auto loan.what is his debt to income ratio
2 answers:
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The correct option is B, II. only.
Given to us,
I. In the effective rate formula, n is equal to one.
Effective interest rate formula,
where,
r is the effective interest rate,
i is the stated interest rate,
n is the number of compounding periods per year.
According to the question the compounding periods per year is not given to us. Also, loans are taken for a longer period of time.
Thus, we can conclude that statement is false.
II. The nominal rate is 7. 918%.
nominal rate = real interest rate + inflation rate,
but as it is not mentioned in the question about the inflation rate. the statement is true to us. Assuming the inflation rate is 0%.
Thus, we can conclude that statement is true.
III. The Federal Funds Rate is static.
This statement is false, as the no information is given about this statement also this can not be concluded through assumption.
Thus, we can conclude that statement is false.
Hence, The correct option is B, II. only.
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Answer:
160 visitors.
Step-by-step explanation:
Given:
An average of 145 people visited a 4-day exhibition on the first 3 days, <u>means here average people visited in 3 days is given 145.</u>
Average = 145
Number of people, n = 3
Another 205 people visited the exhibition on the fourth day.
To find:
What is the average number of visitors per day ?
Solution:
<u>First of all we will find total number of people visited in 3 days:-</u>
As we know:
Multiplying both sides by 3
Thus, we found that total number of people visited in 3 days is 435 and as 205 people visited in fourth day, then total number of people increased to
435 + 205 = 640
Now, sum of total observations( total number of people ) = 640
And number of observation ( number of days ) = 4
Now, we will calculate average number of visitors visit per day :-
Thus, the average number of visitors per day is 160 visitors.