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Elis [28]
3 years ago
5

Chuong Ngo borrows $2700 from a bank that advertises a 7% simple interest rate and repays the loan in three equal monthly paymen

ts. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula.
Business
1 answer:
garik1379 [7]3 years ago
8 0

The estimated Annual Percentage Rate is 10.5%

APR means Annual Percentage Rate.

Annual Percentage Rate refers to the interest rate one pays on a loan each year.

We will use the Annual Percentage Rate(APR) Formula to derive the estimate

APR = 2nr/(n+1) where the P = $2,700, R = 7% and N = 3

APR = 2*3*0.07 / (3+1)\\APR = 0.42 / 4\\APR = 0.105\\APR = 10.5%

In conclusion, the estimated Annual Percentage Rate is 10.5%

Learn more about Annual Percentage Rate here <em>brainly.com/question/9301830</em>

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Your job includes ordering phone service for new employees. You are considering two phone plans. The first plan charges $23.35 p
BabaBlast [244]

Answer:

$34.68

Explanation:

The total cost by following the first plan will be the charge per months times  12 months

= $23.35 x 12

= $280.2

The total cost from the second plan will be the cost of the first three months at  $14.99 plus the cost of 9 months at $29.99

=($14.99 x 3) + ($29.99 x 9)

=$44. 97 +$269.91

=$314.88

The first plan is the better deal. It will save

= $314.88 - $280.2

=$34.68

5 0
3 years ago
The women who work at Grant's, a department store, say that they love their job and would not work anywhere else because of the
Zarrin [17]

Answer:

Affirmative Action

Explanation:

Affirmative Action is the action which is defined as the policy that is used through the universities and colleges in order to improve the opportunities of education for the minority groups involving sexual orientations, minority races and genders, which are commonly as well as historically discriminated against.

So, in this case, the women who work at the departmental store, love the job and would not work anywhere as preferential treatment is given at work. And females are valued over male employees. Therefore, this situation, implement the affirmative action.

7 0
4 years ago
Hard skills are teachable abilities like reading, solving equations, and using computer software. True or False
alukav5142 [94]
This is true because any hard skill is teachable if one is willing to learn the skill by learning the skill and learning the way to use the skill one can learn it. 
4 0
3 years ago
Read 2 more answers
What is an Income Tax? for education
Snowcat [4.5K]

Answer:

If your employer pays more than $5,250 for educational benefits for you during the year, you must generally pay tax on the amount over $5,250. Your employer should include in your wages (Form W-2, box 1) the amount that you must include in income.

Explanation:

8 0
3 years ago
Read 2 more answers
The common stock of the P.U.T.T. Corporation has been trading in a narrow price range for the past month, and you are convinced
konstantin123 [22]

Answer:

A) according to put call parity:

price of put option = call option - stock price + [future value / (1 + risk free rate)ⁿ]

put = $6.93 - $125 + [$140 / (1 + 5%)¹/⁴] = $6.93 - $125 +$138.30 = $20.23

B)

you have to purchase both a put and call option ⇒ straddle

the total cost of the investment = $6.93 + $20.23 = $27.16, this way you can make a profit if the stock price increases higher than $125 + $20.23 = $145.23 or decreases below than $125 - $20.23 = $104.77

4 0
3 years ago
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