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Marysya12 [62]
3 years ago
11

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 st

ock on credit at 14% To the nearest tenth, APR =
Mathematics
2 answers:
slavikrds [6]3 years ago
7 0

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%

VikaD [51]3 years ago
4 0
Hey :)

APR=((1+0.14÷12)^(12)−1)×100=14.93%

Hope it helps
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