19.18/2.8= 6.85 hours or rounded it would be 7 hours
Answer:
(a) 39,208
(b) 65%
Step-by-step explanation:
(a) The car loses 10% the first year and 15% the second year so that’s 35% lost in total after two years.
35% of 60,320 is 21,112
60,320 - 21,112 = 39,208
39,208 ÷ 60,320 = 0.65 (65%)
Answer:
APR = 416%
EAR = 5370.60%
Step-by-step explanation:
Given:
Interest rate = 7.8% per week
Now,
In an year there are total 52 weeks
thus,
The APR (Annual percentage rate) = Interest rate × Total weeks in an year
or
APR = 8% × 52
or
APR = 416%
and, EAR ( Effective Annual Rate ) = ( 1 + r )ⁿ - 1
Here,
r is the interest rate per week
n is the total weeks in an year
thus,
EAR ( Effective Annual Rate ) = ( 1 + 8% )⁵² - 1
= ( 1 + 0.08 )⁵² - 1
= 53.7060
or
53.7060 × 100% = 5370.60%
