1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?
The chart probably refers to interest per $100 of loan. So, the interest for a $1,230 loan would be (1230/100) * 18.75 = 230.625 ~ 230.63
So, the answer will be B $230.63.
2. Sherri borrowed $3,200 at 13 percent APR for 18 months. If she must pay 19.5 per $100, what is the total interest?
3,200 / 100 = 32 ... x 19.5 = 624
Principal x int rate x time = 3200 x .13 x 1.5 yr = 624 interest
So, the answer will be the A $624.
3. What is the total amount that Sherri (in question number 2) will repay?
The correct answer will be the $3,824.
Answer:
The correct answer is $3.12 and $888.42.
Explanation:
According to the scenario, the given data are as follows:
Beginning balance = $885.30
cash payment = $50
Face value of bond = $1,000
Interest rate = 6%
We can calculate the amortization amount by using following formula:
Amortization amount = Interest expense - cash payment
Where, Interest expense = Beginning balance × interest rate
= 885.30 x 6%
= $53.12
By putting the value, we get
Amortization amount = 53.12 - 50
= $3.12
And, Ending balance of bond = Beginning balance of bond + Amortization amount
= 855.30 + 3.12
= $888.42
Answer:
The correct answer is letter "D": represents the universality of exchange rate systems.
Explanation:
Purchasing Power Parity or PPP compares different countries' currencies through a market's basket of goods approach. Two currencies are in PPP when a market basket of goods, taking into account the exchange rate is priced the same in both countries. PPP currency rates are considered more accurate than market-exchange rates.
So you can have a job that will support you and ur fam, make big bucks. And own a 2017 corvette at the age of 16 like I do lol. You can have a job all day but it's usually best when you enjoy something about it. Or have a passion towards it. Hope this helps $$$ :)
