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Nataly_w [17]
2 years ago
14

Friendly's quick loans, inc., offers you "ten for twelve or i knock on your door." this means you get $10.00 today and repay $12

.00 when you get your paycheck in one week (or else). if you were brave enough to ask, what apr would friendly's say you were paying?
Business
1 answer:
valkas [14]2 years ago
5 0

Answer:

Friendly's would say you were paying <u>1042.86% APR</u>.

Explanation:

Annual percentage rate (APR) can be described as the yearly interest rate that is paid by a borrower to a lender which is expressed in percentage term without taking compounding into consideration.

Annual Percentage Rate (APR) can be determined using the following formula:

APR = {[(Fees + Interest amount) / Principal / n] * 365} * 100 ……………… (1)

Where;

APR = ?

Fees = 0

Interest amount = Amount to repay - Amount to borrow = $12.00 - $10.00 = $2.00

Principal = Amount to borrow = $10.00

n = Number of days in the loan term = One week = 7 days

Substituting the values into equation (1), we have:

APR = {[(0 + 2) / 10 / 7] * 365} * 100

APR = 1042.86%

Therefore, friendly's would say you were paying <u>1042.86% APR</u>.

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Answer:

E. systematic sample

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Systematic sampling is a statistical method sampling that involves the selection of elements or members from a well ordered sampling frame.

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2 years ago
Market equilibrium is: Select one: a. the point at which a nation reaches full employment b. the time period used to determine t
fenix001 [56]

Answer:So far we have learned to measure real GDP, but how do we end up with that real GDP? Of all of the different amounts of national income and price levels that might exist, how do we gravitate toward the one that gets measured each year as real GDP?

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Once we have a short-run equilibrium output, we can then compare it to the full employment output to figure out where in the business cycle we are. If current real GDP is less than full employment output, an economy is in a recession. If current real GDP is higher than full employment output, an economy is experiencing a boom. If the current output is equal to the full employment output, then we say that the economy is in long-run equilibrium. Output isn’t too low, or too high. It’s just right.

Explanation: hope this helps

6 0
2 years ago
A person who is named to receive the benefits from an insurance policy is a(n)
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Just going on a whim:

primary beneficiary?
4 0
3 years ago
The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: Production
Illusion [34]

Answer:

See below

Explanation:

The computation of carrying value on the balance sheet of the ending inventory of finished goods under variable costing is seen below;

Before that, we have to determine the unit cost

Unit fixed manufacturing overhead = $120,400 ÷ 6,020 units = $20

Then, the difference will be;

= Unit fixed manufacturing overhead × change in inventory in units

= $20 × (6,020 units - $5,920)

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7 0
3 years ago
Sunny corporation reported the following results for december: Description AmountNumber of units sold 800 unitsSelling price per
Llana [10]

Answer:

The gross margin for December is: 0.5%.

The Gross margin of an organisation or business measure the extent by which its income exceeds the costs it incurs in producing its goods and or services.  

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Explanation:

To arrive at Gross Margin, one is required to subtract the total cost of goods sold from total revenue for the period and dividing that number by revenue. That is:

Gross Margin (GM) = \frac{Revenue-Cost of Goods Sold}{Revenue}

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This is given as the total amount of goods sold which is:

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Step II - Calculate Cost of Goods Sold

Cost of goods sold per unit is given as

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Total Cost of Goods sold therefore is

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Step III - Calculate Gross Margin

= \frac{400,000-200,000}{400,000}

= \frac{200,000}{400,000}

= \frac{1}{2} or 0.5%

Cheers!

7 0
3 years ago
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