Rosalinda's annual percentage rate (APR) on the loan is <u>195%</u>.
<h3>What is the annual percentage rate?</h3>
The annual percentage rate represents the finance fee and interest paid for borrowing.
The annual percentage rate (APR) for a period of 1 year an be computed by the following simple interest formula:
(Interest + Fee ÷ Principal) ÷ Period
We can multiply the result above by 100 to express it as a percentage.
Assuming that the periodic interest rate is known, we multiply the number of periods in the year to compute the annual percentage rate.
Principal = $2,000
Fee on the loan = $150
Period of loan = 2 weeks
52 weeks = 1 year
Annual percentage rate = 195% ($150/$2,000 x 100 x 52/2)
<u>Check</u>:
APR in dollars = $150 ($2,000 x 195% x 2/52)
Thus, for borrowing $2,000 in two weeks and paying $150 as fee, Rosalinda's loan attracts 195% APR.
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The information that a manager or an owner can get by having an insight into the accounting information about accounts receivable and bad debts is how much amount of goods are sold to the consumers on credit and how much is the amount that the consumers are not able to pay for the goods that they had bought.
It will also help to decide how much of a provision is required to be kept in advance for bad debts. If a company has a high amount of accounts receivable but a small number of bad debts then it shows that the company is efficient in doing the credit sales and gives goods on credit only to those consumers who can give the debt back.
The manager or the owner can decide that they can do more credit sales as there is less chance of it becoming worse. If a company has a high amount of accounts receivable and a high amount of bad debts then it shows that the company is inefficient in doing the credit sales and gives goods on credit to consumers without a surety of getting the debt back.
The manager or the owner can decide that they cannot do more credit sales as there is more chance of it becoming worse.
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The answer that would best complete the given statement above would be the first option. <span>Emily, a college student, reads an article in Money magazine. The author has a degree in finance. The article is about getting a home equity loan. This information is RELIABLE AND RELEVANT. Finance relates not only how to manage money but also how to acquire needed funds. </span>
Answer:
15%
Explanation:
The computation of the internal rate of return is shown below:
Given that
Year Cash Flow
0 -$27,100
1 $11,100
2 $14,100
3 $10,100
The formula to compute IRR is
= IRR()
After applying the above formula, the internal rate of return is 15%
The correct option is D. You withdraw cash from your bank account which is an event that directly involves the Federal Reserve.
The Fed removes limits on house loans for borrowers who have student loan debt in an effort to spur economic development.
<h3>
What events led up to the Federal Reserve law?</h3>
The frail banking system was devastated by bank runs following a particularly bad panic in 1907, which finally prompted Congress to draft the Federal Reserve Act in 1913. In the beginning, the Federal Reserve System was established to deal with these banking panics.
The Federal Reserve carries out general duties such as managing the country's monetary policy, supervising banking institutions, observing and defending consumer credit rights, preserving the stability of the financial system, and offering financial services to the federal government of the United States.
Thus, D is the right answer. You take money out of your bank account, which is a situation where the Federal Reserve is involved directly.
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