Question

Using a calculator and the formula below, what is the APR? Choose the correct answer. APR = (1 + i÷12)t - 1 Jim Tree buys his stock on credit at 14% To the nearest tenth, APR =

Answer 1

Answer:

14.9%

Step-by-step explanation:

Using a calculator and the formula below, what is the APR? Choose the correct answer. APR = (1 + i÷12)t - 1 Jim Tree buys his stock on credit at 14% To the nearest tenth, APR =

APR = (1 + i÷12)^(t - 1 )

where i=interest

t=time

APR=Annual Percentage Rate.

APR can give you an idea of the percentage you will pay to borrow out a loan. it is the cost attached when you want to borrow from the bank on a yearly basis.

APR=((1+0.14÷12)^(12)−1)×100=14.93%

14.9%

Answer 2

Hey :)

APR=((1+0.14÷12)^(12)−1)×100=14.93%

Hope it helps