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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 company is producing a phone with a new video feature. You need to review design specifications with the production company
Nana76 [90]

Answer: Because it is a private issue that concers only to the company and has to be handled with care, besides, other companies don't have to know about the specifications review.

Explanation: According to Ricks and Gow, “The primary purposes of business letters are to inform, instruct, request, inquire, remit, order, advice, correct and to question.” The basic purpose of any business letter is to <u>convey information</u> regarding business activities.

3 0
3 years ago
Read 2 more answers
Total assets were $78,000 and total liabilities were $42,000 at the beginning of the year. Net income for the year was $15,500,
Vaselesa [24]

Answer:

$46,500

Explanation:

Accounting equation is stated as :

Assets = Equity + Liabilities

therefore,

Equity = Assets - Liabilities

Equity at Beginning of the Period :

Equity = Assets - Liabilities

           = $78,000 - $42,000

           = $36,000

Equity at end of the Period

Closing Equity Balance = Opening Balance + Net Income - Dividends

                                       = $36,000 + $15,500 - $5,000

                                       = $46,500

6 0
3 years ago
Chris and Jordan are a two-person household. Chris's market hourly wage is $40, but Chris can also produce $20 of household prod
andrezito [222]

Answer:

A. Jordan specializes in household production, while Chris specializes in marketplace work.

Explanation:

Chris and Jordan both can work for their household. The best way is to achieve maximum utility by using the combination of their skills. Chris can go for household work and Jordan can go for marketplace work. They both can use combination of their specialization to achieve maximum utility.

6 0
3 years ago
Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is
Karo-lina-s [1.5K]

Answer:

The answer is E. $24,000

Explanation:

Straight line depreciation method equals

Cost of asset - salvage value / number of years.

Cost of asset is $135,000

Salvage value is $15,000

Number of years is 5 years

$135,000 - $15,000/5 years

$120,000/5 years

=$24,000

Straight line method of depreciation has equal amount all through the year.

The first year through it end life.

Therefore, machines' first year depreciation under the straight-line method is $24,000

6 0
3 years ago
Sun-Jun is the executive general manager of a U.S.-based multinational corporation. Marisol is a manager in a similar position b
Norma-Jean [14]

Answer: A. choosing an appropriate mode for entering a particular foreign country

Explanation:

The options to the question are:

A. choosing an appropriate mode for entering a particular foreign country

B. developing a business strategy

C. marketing a product or service

D. adhering to labor and environmental standards

E. maintaining healthy relations with the U.S. government.

From the question, we are told that Sun-Jun is the executive general manager of a U.S.-based multinational corporation while Marisol is a manager in a similar position but works for an American company that operates only in the U.S. and does not engage in international business.

Since Marisol's company does not engage in international business, while Sun-Jun works in a multinational corporation, this means that the business function will be most typically exclusive to Sun-Jun will be choosing an appropriate mode for entering a particular foreign country.

4 0
3 years ago
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