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
san4es73 [151]
3 years ago
5

First National Bank charges 13.5 percent compounded monthly on its business loans. First United Bank charges 13.8 percent compou

nded semiannually. Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Romashka-Z-Leto [24]3 years ago
7 0

Answer: 14.28%

Explanation:

Effective Annual Rate is the rate that takes the periodic rates and converts it to an annual rate if compounding the periodic rate was taken into account.

The formula is;

EAR = (1 + r/m)^m - 1

Where;

r is the Annual nominal rate of interest and,

m is Number of compounding periods in a year

EAR = ( 1 + 13.8/2)² - 1

= 1.142761 - 1

= 0.142761

= 14.28%

You might be interested in
Which global enterprises employee used to work for the los angeles police department?
MrRa [10]
I believe it was Heath Andreeson
5 0
3 years ago
Lisa and lena own a shop together. they are partners in their business of 2 years. lisa is a designer; lena is a seamstress. lis
Ratling [72]
The agent of Lisa would likely tell her about the process and the rules in regards of the disability buy and sell insurance. The agent would likely explain that if she acquired this type, the insured person would likely be protected when the person has exhibit a disability and that having this type of insurance have benefits and are likely to be tax free.  
8 0
3 years ago
Importance of economic growth​
svlad2 [7]

Answer:

Economic growth generates job opportunities and hence stronger demand for labour, the main and often the sole asset of the poor. In turn, increasing employment has been crucial in delivering higher growth.

8 0
2 years ago
Describe the nature and types of businesses. ​
const2013 [10]

Answer:

The nature of business is a statement about a company's offering to its clients, its industry, legal structure, or any other distinctive qualities of the business. For example, if you say a company in the “private sector”, you evaluate the nature of the company based on its nature to earn profits.

Explanation:

Hope This Helps,

If The question is Correct May i have Brainliest

Thank You

8 0
2 years ago
A car was purchased for $4500 down and payments of $375 at the end of each month for 5 years. Interest is 9.72% compounded month
agasfer [191]

Answer:

$21,080.2

Explanation:

The price of the car will be the down-payment plus the future value of 375 paid each month for 5 years compounded monthly at 9.72%.

The formula for calculating future value is

PV = P ×  1 − (1+r)−n

  r

PV is $350

r is 9.72 % or 0.0972 % per year or 0.0081

t is five year or 60 months

FV = 350 x (1-(1+0.0081)-60

  0.0081

Fv =350 x 1-0.61628715419

  0.0081

FV =350 x( 0.38371284581/0.00810

FV =350 x 47.371956

FV =16,580.20

The value of the car = $4500 + 16,580.20

=$21,080.2

7 0
3 years ago
Other questions:
  • If a firm applies its overall cost of capital to all its proposed projects, then the divisions within the firm will tend to ____
    13·1 answer
  • In its first month of operations, Novak Company made three purchases of merchandise in the following sequence: (1) 190 units at
    13·1 answer
  • In a typical scenario planning exercise,:
    6·1 answer
  • An agency relationship can degenerate into an agency conflict when an agent acts in a manner that is not in the best interest of
    10·2 answers
  • Machinery was purchased for $85,000. Freight charges amounted to $3,500 and there was a cost of $10,000 for building a foundatio
    10·1 answer
  • Losses on the sale of long-term assets for cash:
    12·1 answer
  • : Identify your top four work values. Work values are the elements of
    10·1 answer
  • The board of directors is charged with protecting the rights of
    9·1 answer
  • In 25 years, a bond with a 4.75% annual interest rate earned $2,375 as interest. What was the principal amount of the bond if th
    7·1 answer
  • How does the amount of energy per second pollux is giving off compare with that of the other four stars you’ve observed? (hip 87
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!