Based on the information given, it can be deduced that the annual percentage rate (APR) is 24%.
The annual percentage rate simply means the yearly interest that's generated by a sum that's charged to a borrower. In this case, the APR is 24% after 6 months.
Also, the credit cards that have an annual fee will be credit card 2 and 3. It can also be deduced that the grace period is the same for the three credit cards while credit 3 has a membership.
If one pays the credit card bill on time and the balance each month, the best credit card is credit card 1. Lastly, when one has a balance from time to time credit card 1 is still the best.
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In introducing the opportunity cost of time into the theory of consumer behavior, we find that, all else equal one should consume less of time-intensive goods.
Opportunity cost of time is actual cost of the time lost in performing one activity instead of another. In other words it is the loss of the time done in choosing an opportunity between the two.
One should consume less time intensive goods because it will save more time.
Theory of consumer behavior is the study of how the people decide to spend their money in the given choices to them according to the budget constraints and individual preferences.
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Answer:
Results are below.
Explanation:
Giving the following information:
Initial investment= $2,000
Ineterest rate= 2%
Number of years= 6 years
<u>First, we will calculate the future value if the interest is compounded annually, semiannually, and quarterly:</u>
FV= PV*(1+i)^n
<u>Annually:</u>
n= 6
i= 0.02
FV= 2,000*(1.02^6)
FV= $2,252.32
<u>Semiannually:</u>
n=12
i= 0.02/2= 0.01
FV= 2,000*(1.01^12)
FV= $2,253.65
<u>Quarterly:</u>
n= 24
i=0.005
FV= 2,000*(1.005^24)
FV= $2,254.32
<u>Now, if instead of compounding interest, it is simple interest:</u>
FV= (PV*i*n) + PV
FV= (2,000*0.02*6) + 2,000
FV= $2,240
Answer:
€903.50
Explanation:
We use the present value formula to determine the current price of the bond which is shown in the attachment below:
Given that,
Future value = €1,000
Rate of interest = 7.6%
NPER = 15 years
PMT = €1,000 × 6.5% = €65
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the current price of the bond is €903.50
Answer:
0.9
Explanation:
Hoagland corporation stock price is $22.50
Its book value per share is $25.00
Therefore the market book ratio can be calculated as follows
= 22.50/25
= 0.9
Hence the market book ratio is 0.9
