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ruslelena [56]
3 years ago
14

Your local pawn shop loans money at an annual rate of 23 percent and compounds interest weekly. What is the actual rate being ch

arged on these loans? A. 26.56 percent B. 25.16 percent C. 26.49 percent D. 25.80 percent
Business
1 answer:
Eddi Din [679]3 years ago
6 0

Answer:

D. 25.80 percent

Explanation:

The formula to compute the effective annual rate of the loan is shown below:

= (1 +  annual interest rate ÷ periods)^ number of period - 1

= (1 + 23% ÷ 52)^52 - 1

= (1 + 00442)^52 - 1

= 1.00442^52 - 1

= 1.2579618615  - 1

= 25.80%

There are 52 weeks in a year and we considered the same in the above calculation

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when a market allocation of resources maximizes the total surplus received by all members of society we say there is
crimeas [40]

Whenever there is maximization of total surplus that is been received by those that are part of society by market allocation of resources then there is market Efficiency.

  • Economic efficiency can be regarded as economic state whereby there is allocation of resource to serve each individual or entity in way that everyone is satisfied while minimizing waste and inefficiency.

Therefore, When there is  an economy efficiency,  there would be maximization of total surplus.

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8 0
3 years ago
This information relates to Sunland Company for the year 2017. Retained earnings, January 1, 2017 $83,080 Advertising expense 2,
babymother [125]

Answer:

Net Income : $16.616

Retained Earnings: $92.256

Please see details below:

Explanation:

Income Statement 2017

Sales  $71.920  

Advertising Expenses -$2.232  

Miscellaneous Expenses -$50.096  

Utilities Expenses -$2.976  

Net Income $16.616  

Retained Earnings Report  

Opening retained earnings $ 83.080

Add: Net Income $ 16.616

Subtotal $ 99.696

Less: Dividens -$ 7.440

Total $ 92.256

8 0
3 years ago
Factory labor charges that cannot be easily traced to a job are treated as ______.
natulia [17]

Answer:

Manufacturing overhead

4 0
2 years ago
Carlos plans to go for a run after his classes are over. As he is getting dressed, he notices that one of the seams is unravelin
saveliy_v [14]

Answer:

Problem recognition

Explanation:

Problem recognition is the first stage of the purchasing process. It is at this stage that the decision-maker realises there needs to be a change from the status quo.

The next stage is information gathering. Involving researching information about the problem and sources of solution.

Next is evaluation of solutions.

Finally purchase is made.

4 0
3 years ago
Brangelina Adoption Agency’s general ledger shows a cash balance of $4,593. The balance of cash in the March-end bank statement
aliya0001 [1]

Answer:

$4.542

Explanation:

Bank services fees must be included in  balance, as well as  interest earned, but checks outstanding no, because they arent paid yet.

So the correct calculation is:

$ 4.593 - $85 + $34 =  $4.542

5 0
3 years ago
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