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Airida [17]
2 years ago
13

Kaleb wants to get a payday loan in the amount of $375. He knows that the annual percentage rates (APR) for these types of loans

are high, but he is hoping to find one that has an APR of 40%. If Kaleb finds a business that charges a fee of $37 for the loan, what would the term of the loan need to be in order for Kaleb to get his desired APR? a. 9 days b. 19 days c. 90 days d. 95 days Please select the best answer from the choices provided A B C D.
Business
1 answer:
fomenos2 years ago
7 0

It would take 95 days for Kaleb to get his desired APR.

Since Kaleb wants to get a payday loan in the amount of $ 375, and he is hoping to find one that has an APR of 40%, if Kaleb finds a business that charges a fee of $ 37 for the loan, to determine what the term of the loan need to be in order for Kaleb to get his desired APR, the following calculation must be performed:

  • APR = 37/375 x 365
  • APR = 0.098 x 365
  • APR = 36
  • 100 = 365
  • 36 = X
  • 36 x 365/100 = X
  • 13140/100 = X
  • 131.4 = X
  • 131.4 - 37 = 94.4

Therefore, it would take 95 days for Kaleb to get his desired APR.

Learn more in brainly.com/question/19115876

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6 0
3 years ago
Russell was determined to make a big change in the thought process behind police officer roles in communities. What were some of
harkovskaia [24]

Explanation:

Area = Area of sides + area of semicircle thing

= (2*0.21*0.31) + (2*0.31*0.61) + (0.21*0.61) + ( 3.14*0.105*0.61) + (3.14*0.105*0.105) = 0.872 m^2

Total area = 0.872 *1106 =964.43 m^2

Answer =965 m^2

8 0
3 years ago
GUYS PLEASE HELP ME WITH FINANCIAL PLAN FOR COMPANY OF CONFECTIONERY PRODUCTS BASED ON COFFEE!!!!! 1)Set the price of product an
OLEGan [10]

You are planning a coffee company, This would depend on an amount of customers, location of the company, and how you are going to distribute the product. It will also depend on the source of your products, and the economic and political standpoint of each individual country

1) The buying price should encompass many "thoughts":

  1. It must be small enough to give you a profit
  • The price of the product must not meet or exceed your selling price, for to continue to do business with them, you must be able to earn a profit.
  1. It must be large enough so that both the buyer and seller is happy
  • To keep both the buyer and seller happy, the buyer must be able to give a reasonable price that would ensure a continuation of the product, which means buying in a price that would allow the seller to pay for employees, cover businesses expenditures, etc.

This may place the price in a higher amount, so you must ensure that your product is high-quality to offset the price. For in the balance of price vs customer, the higher the price, the less customers (unless you are a monopoly (which you are not), or you have loyalty.)

2) To calculate the possible earnings, you must subtract the costs from the total revenue you have gotten (to find the profit).

The costs can include: shipment, supplies, electricity, upkeep of store(s), taxes (property, business, etc), royalty to coffee-company, ad-costs (if you decide to run them), etc.

For example, let us say that:

Total cost for:

  1. Shipment: $300 per shipment (10 shipments = 10 x 300 = $3000)
  2. Royalty: $1000
  3. Tax: $300
  4. Payment to sources: $0.10 a lb.
  5. Cost for 500 lbs. of coffee

500 x 0.10 = 50

3000 + 1000 + 300 + 50 = $4,350

This means that total cost for shipment of resources needed is $4,350.

Now, let us calculate the cost of the business itself:

For example:

Total cost for:

Building maintenance: $5,000

Pay for employees as a whole for 30 days: $6,000

Electricity, Gas, and other power source: $2,000

Total cost: 5000 + 6000 + 2000 = $13,000

Total cost for extra workers (repairs): $3,000

Tax as a whole: $16,000

16000 + 3000 = 19,000

This means that total cost is:

$13,000 + $19,000 + 4,350= $36350

---------------------------------------------------------------------------------------------------------

So we must calculate the amount needed to break even and make a profit.

Let us say that you want to make a $10000 profit.

Add $36350 with $10000, which equals $46,350

=>

After a month, you find that approximately 50,000 customers show up (returns are counted too) in total to your stores because they find that your products are good

Divide $46,350 with 50,000

46,350/50,000 = ~0.93

However, 93¢ is a weird number to sell coffee, and so we will round up to $1.00

This means that you sell each cup of coffee at $1.00

--------------------------------------------------------------------------------------------------------

3) The cost of production is <em>$36,350</em>, with the total revenue being a projected amount of <em>$46,350 - $50,000</em>

Subtract the range with the production

$46,350 - $36,350 = 10,000

$50,000 - $36,350 = 13650

The total profit is projected to be from $10,000 - 13,650

--------------------------------------------------------------------------------------------------------

=> Remember revenue & profit is usually poured back into the company, and so the amount is subject to change in a year to year process. Also, the percentage of loyalty & new customers may change as well. Political events around the world may affect sales. Overseas openings of shops may also have an effect on the company.

-------------------------------------------------------------------------------------------------------

~<em>Rise Above the Ordinary</em>

4 0
3 years ago
Which management assertion is usually most relevant for liability accounts? 1. Completeness. 2. Existence.3. Rights and obligati
katovenus [111]

Answer:

The right answer is 3. Rights and obligations.

Explanation:

Liability accounts include all those financial obligations that a company has with suppliers, accounts payable, taxes, among others.

8 0
3 years ago
You market many different types of insurance and ordinarily you spend time each evening calling potential clients. To comply wit
USPshnik [31]

You have to avoid calling potential clients unless they initiate contact with you and specifically request that you give them a call.

<h3>What is a health care plan?</h3>

A health care plan refers to a medical plan for the medical care of a particular patient which covers a part or whole risk of the medical expenses incurred such as Medicare.

In this scenario, we can reasonably infer that as a marketer, you should avoid calling potential clients to market those medical plans, unless they initiate contact with you and specifically request that you give them a call.

Read more on Medicare here: brainly.com/question/14166257

#SPJ1

3 0
2 years ago
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