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3 years ago

Which of the following should be considered when deciding on a loan?

Business

2 answers:

blsea [12.9K]3 years ago

6 0

The answer is d all of the abovten

olya-2409 [2.1K]3 years ago

3 0

Answer:

d. all of the above.

Explanation:

When deciding on a loan, the considerations would include;

The lowest finance charge - This ensures that the interest expense on the loan amounts to a fee that is worth the cost of the loan. It is a measure of the cost incurred in taking the loan.

The fastest payoff - this is a key consideration as the earlier a business or an individual settles the loan, the more likely it is that the cost of taking the loan reduces.

The most affordable monthly payment - this is an important consideration as the entity taking the loan should ensure that the payment terms are affordable.

Hence the right option is d. all of the above.

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3 years ago

Use the following compound interest formula to complete the problem. A = P (1 StartFraction r over n EndFraction) superscript n

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Credit cards are the card which is given by banks to the customers for withdrawing some amount beyond the account balance. The card I's is increased by $1579.3 than card H.

<h3 /><h3>What is a credit card?</h3>

A credit card refers to a payment mechanism that helps both consumer and commercial business proceedings, including purchases and cash advances.

Computation of credit card's balance:

<u>Amount of </u><u>Card H </u><u>after 3 years:</u>

Given,

Principal(P) = $1,186.44

Interest Rate(r) = 14.74%

Number of time period(n) = 3 years.

Applying the above values in the formula given in the question:

$\text{A} = \text{P}(1+ \dfrac{r}{n} )^n^t\\\\\\\text{A} =\$1,186.44(1+ \dfrac{14.74\%}{3} )^3\\\\\\\text{A}= \$1792.2$

<u>Amount of</u><u> Card I </u><u>after 3 years:</u>

Principal(P) = $1,522

Interest Rate(r) = 12.05%

A number of the time periods (n):

$12\text{Months}\times3\text{Years} = 36 \text{Months}$

Again, apply the above values in the formula given in the question:

$\text{A} = \text{P}(1+ \dfrac{r}{n} )^n^t\\\\\\\text{A} =\$1,522.16(1+ \dfrac{12.05\%}{12} )^3^6\\\\\\\text{A}= \$3,371.58$

Now we take the difference between both the credit cards, we have:

$\text{Amount of Credit Card I}-\text{Amount of Credit Card H}\\\\=\43,371.58-\$1,792.2\\\\=\$1,579.38$

Therefore, card H's balance is decreased by $1579.3 than a card I.

Learn more about credit cards, refer to:

brainly.com/question/14716152

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3 years ago

Pick the correct statements regarding cell references.

seropon [69]

where are the statements?

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3 years ago

Read 2 more answers

16) If the supply of iPads increases, then

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Answer: The market demand curve for soft drinks will shift to the left and the market supply curve will shift to the left as well: equilibrium quantity will decrease and the equilibrium price may rise, fall, or remain the same. The graphs below illustrate this idea.

Explanation:

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3 years ago

Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units was $750. What is the jour

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Answer:

Dr. Cr.

Work-in-Process Inventory - Dept. 2: 750

Work-in-Process Inventory—Dept. 1: 750

Explanation:

All the cost incurred in the department 1 was added in the work in process account of this department. While transferring the product from one department to other the cost of work in process will also be transferred to next department to accumulate all costs associated with the product. At the end the finished goods will be carrying all the cost incurred to manufacture that product. Due debit nature of WIP account the cost in transferred to next department's account by just crediting the WIP of department 1 and debiting WIP of department 2. WIP of Department 1 will be 0 and WIP of department 2 will be $750.

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3 years ago