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Serjik [45]
3 years ago
10

what is the effective interest rate of a simple discount note of 8000 at an ordinary bank discount rate of 11%, for 120 days?

Business
1 answer:
Westkost [7]3 years ago
8 0

Answer:

11.41%

Explanation:

Discount rate = 11%, M = 120 days = 3 month

Effective rate = [(1 + 11% / 3)^3] - 1

Effective rate = [(1 + 0.11/3)^3] - 1

Effective rate = [(1 +   0.0366667)^3] - 1

Effective rate = [(1.0366667)^3] - 1

Effective rate = 1.1140827371 - 1

Effective rate = 0.1140827371

Effective rate = 11.40827371%

Effective rate = 11.41%

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in Illinois Mobile homes are generally considered to wich one a. personal property b. real property c.trade fixture d. fixtures
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A. personal property


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What is the primary purpose of a mission statement?
natka813 [3]
Its c good luck and hope that helps 
3 0
3 years ago
Given the following information, calculate the loan-to-value ratio of this commercial loan: estimated net operating income in th
tatyana61 [14]

Answer:

b. 0.77

Explanation:

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= Loan amount ÷ Purchase price

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It shows a relationship between the loan amount and the purchase price so that the accurate ratio can come

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7 0
3 years ago
American Express and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. I
In-s [12.5K]

Answer: 19.56%

Explanation:

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It is calculated with the formula,

= ( 1 + r/n) ^ n - 1

Where

r = APR

n = no of compounding periods in a year

Interest is paid monthly so nnumber of periods will be 12.

Therefore,

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5 0
3 years ago
Fill in both blanks with the correct terms: A _________ percentage of young people have debt than older generations, while their
Vinil7 [7]

Answer:

The correct answer is letter "C": Larger, lower.

Explanation:

According to different researches carried out across the U.S., young adults who are between 18 and 29 years old have a total debt to $1.05 trillion. Individuals' debt who are older than 70 is $1 trillion. The average debt amount that young adults (18-29) have is $22,000 while elder people from 50 years old and on is $36,000.

Then, <em>young adults have larger accumulated debt than elders and their debt amounts are lower as well.</em>

7 0
3 years ago
Read 2 more answers
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