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Andre45 [30]
3 years ago
11

your local pawn shop loans money at an annual rate of 24 percent and compounds interest weekly. What is the actual rate being ch

arged on these loans?
Business
1 answer:
Alika [10]3 years ago
6 0

Answer:

27%

Explanation:

The actual rate being charge on these loans is the effective annual rate and the formula to calculate it is:

i=(1+(r/m))^m−1

i= effective annual rate

r= interest rate in decimal form=0.24

m=number of compounding periods per year= 52 (a year has 52 weeks).

i=(1+(0.24/52))^52-1

i=1.27-1

i=0.27

According to this, the answer is that the actual rate being charge on these loans is 27%.

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Assume that you purchased a $1,000 perpetual bond (coupon payment is $50) and the interest rate on that bond declined from 5 per
Svetlanka [38]

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D) all of the above

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CF = 50

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If rate = 2%;

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5 0
3 years ago
Stewart Inc.'s latest EPS was $3.50, its book value per share was $22.75, it had 220,000 shares outstanding, and its debt-to-ass
stellarik [79]

Answer: Option (c) is correct.

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Shares outstanding = 220,000

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                    = $5,005,000

Total Assets = \frac{Total\ Equity}{1 - Debt\ to\ assets\ ratio}

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Debt outstanding = Total Assets - Total Equity

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                              = $4,263,518.52

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What is the only bone in the human body not connected to another bone?
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Hyoid bone

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