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Blizzard [7]
3 years ago
15

On September 1, 2021, Hiker Shoes issued a $100,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial B

ank where the stated discount rate is 11% Hiker's effective interest rate on this loan (rounded) is: ____________
Business
1 answer:
djyliett [7]3 years ago
6 0

Answer: 11.87%

Explanation:

Effective interest rate on this loan is:

= Interest payment / (Note - Interest payment) * 12/8 months

Interest payment:

= Note * Interest rate * 8/12 months

= 100,000 * 11% * 8/12

= $7,333

Effective interest:

= 7,333 / (100,000 - 7,333) * 12/8

= 11.87%

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drek231 [11]

Answer:

d. Emeralda from " Clean as a Whilte Co." runs over patty Pedestrain in the dealership's parking lot.

Explanation:

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3 years ago
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Answer:

9.43%

Explanation:

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5 0
3 years ago
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Angelina_Jolie [31]
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tiny-mole [99]

Answer:

Explained below.

Explanation:

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The Fed uses 3 central instruments in monitoring capital accumulation the discount rate, open-market operations, as well as reserve obligations. The prime is by far the most prominent. By purchasing either marketing government protection (habitually bonds), the Fed or a central bank influences the financier's supply including interest valuations.  

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3 years ago
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