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Liono4ka [1.6K]
2 years ago
5

Lois has a balance of $970 on a credit card with an APR of 24.2%, compounded monthly. About how much will she save in interest o

ver the course of the year if she transfers her balance to a credit card with an APR of 10.8%, compounded monthly?
Business
2 answers:
SCORPION-xisa [38]2 years ago
8 0

Answer:

$152.51

Explanation:

apeex

Aleks04 [339]2 years ago
7 0

Answer:

Lois will save $152.51 when she wil transfer her balance.

Explanation:

Amount to be paid in 1 year for original credit card is given as

P_1^{'}=P*(1+r_1)^t

Here P^{'}_1 is the amount to be paid after P is the balance which is 970, r_1 is the APR for first credit card which is 24.2% and t is compounding frequency which is 12 so

P_1^{'}=P*(1+r_1)^t\\P_1^{'}=970*(1+\dfrac{24.2}{12}\%)^{12}\\P_1^{'}=970*(1.0207)^{12}\\P_1^{'}=970*1.2707\\P_1^{'}=\$1232.61

Similarly for the second one the values are calculated as

P_2^{'}=P*(1+r_2)^t\\P_2^{'}=970*(1+\dfrac{10.8}{12}\%)^{12}\\P_2^{'}=970*(1.108)^{12}\\P_2^{'}=970*1.1135\\P_2^{'}=\$1080.10

The differnce of the two values is calculated as

P_1'-P_2'=1232.61-1080.10\\Difference=\$ 152.51

The difference is $152.51 which she could save.

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Scarcity is a condition that is everywhere and always, since it is based upon two assumptions that reflect permanent universal c
Musya8 [376]

Answer:

Scarcity is a condition that is everywhere and always, since it is based upon two assumptions that reflect permanent universal conditions. The assumptions are that more output will satisfy more wants and the world has limited productive resources

Explanation:

Due to the fact that there is high demand in market and there is limited productive resources which in turns affect the demand, hence; causing scarcity

3 0
3 years ago
Suppose that actual inflation is 3 percent, the Fed's inflation target is 2 percentage points, and unemployment rate is 3 percen
Dahasolnce [82]

The government would set its targeted interest at 6.5%

Based on the Taylor's rule

R = π + A + 0.5(A-A*) + 0.5

This is the formula that helps to get the output gap

<u>Definition of terms</u>

R is the nominal federal funds rate

π is the real rate of federal funds = 2%

A is the rate of inflation

A* is the target of of inflation = 2%

Rate of unemployment = 3%

The government has a target of full employment that is at 4 percent.

When we enter the values into the formula

R = 2% + 3% + 0.5(3%-2%) + 0.5%(2%)

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= 6.5%

Therefore the government would set its targeted interest at 6.5%

Read more on brainly.com/question/14466278?referrer=searchResults

5 0
2 years ago
The opportunity cost of attending college is likely to be highest for a high school graduate Choose one: A who is very intellige
Valentin [98]

Answer:

B. who can immediately take over the family business

Explanation:

<em>Option A</em> is wrong because opportunity cost is not related to intelligence.

<em>Option C</em> is not correct because a high school graduate and a college attending student can access to student loans.

The family's wealth can not be a factor in terms of opportunity cost of attending college or a high school graduate. Therefore, <em>option D</em> is incorrect.

Option B is correct as a college attending student cannot take over the family business. So, it is his opportunity cost. On the other hand, a high school graduate can take over the business.

8 0
2 years ago
Which two investment options would be best if you are 20 year old, just starting to save, and want to retire when you are 70? Co
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Answer:

Diverisify

Explanation:

The best option would be to diverisify between various things. Part into a promising crypto such as Ethereum or Bitcoin. Part into some basic index funds such as the SPY (S&P500), some bigger tech companies such as Apple and finally a more risky investment into a stock or crypto which is only in the beginning of its age. If you would like protection against a crisis or similar you could buy some Put options for your stocks.    

3 0
2 years ago
Joe met with all of his department heads to listen to their opinions about buying a new machine. Although they all thought it wa
balandron [24]

Answer:

A. Democratic

Explanation:

Leadership is art of guiding & motivating a group of people to achieve a common goal.

Democracy is form of governing based on considerate importance to all people's opinion in group. It is opposite of 'autocratic' governing where leader has immense power & takes decision based on only own opinion.

Joe is considering opinion of all the members of organisation, while taking a decision of purchasing a machine. He paid attention to not only opinion of department heads, but also opinion of other employees. Despite of he & department heads perceiving it to be a good idea, employees considered it to be unnecessary. Thereafter Joe didn't purchase the machine. So, his decision encompassing all people's opinion depicts Democratic Leadership.

6 0
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