Answer:
<h2>In this case, the answer would be acquiring or merging with other firms producing related products or services.</h2>
Explanation:
- As mentioned in the question, the market for technical translation software is basically dominated by firms producing differentiated or specialized products and services.
- Now, considering that SpeakEasy is a completely new entrant in the market, it will be extremely difficult for the company to initially compete with the established market leaders or firms dominating the market.
- Hence, SpeakEasy can perhaps consider acquiring or merging with some of the firms producing or specializing in voice-recognition software that will eventually ease the burden of market competition or rivalry for the company and consequently,it can commercially and economically grow and prosper in the market by capturing new customers and expanding market share.
- Mergers or acquisitions, in this case, would help the company to effectively focus on its specialized activities and conducts through knowledge sharing, economies of scale or lower average production cost,transfer or transmission of technological knowledge and exploration of new customer or client bases.
15.79 % is the rate that bank is requred to give to potential borrowers
<u>Explanation:</u>
![A P R=m\left[(1+E A R)^{1 / m}-1\right]](https://tex.z-dn.net/?f=A%20P%20R%3Dm%5Cleft%5B%281%2BE%20A%20R%29%5E%7B1%20%2F%20m%7D-1%5Cright%5D)
![\mathrm{APR}=365\left[(1+.171)^{1 / 365}-1\right]](https://tex.z-dn.net/?f=%5Cmathrm%7BAPR%7D%3D365%5Cleft%5B%281%2B.171%29%5E%7B1%20%2F%20365%7D-1%5Cright%5D)
![A P R=365\left[(1.171)^{0.00273972602}-1\right]](https://tex.z-dn.net/?f=A%20P%20R%3D365%5Cleft%5B%281.171%29%5E%7B0.00273972602%7D-1%5Cright%5D)
![\mathrm{APR}=365 *[1.00043258-1]](https://tex.z-dn.net/?f=%5Cmathrm%7BAPR%7D%3D365%20%2A%5B1.00043258-1%5D)
, APR = 0.1578917
Or 15.79% (it is rounded off )
<u>Where:
</u>
EAR = effective annual rate
APR = Annual percentage rate
M = number of compounding
Therefore, the interest of rate that the bank is required by law in order to report to all the potential borrowers is 15.97%
