According to an article in the maclean''s magazine

Assignment Help Mathematics

Reference no: EM13850219

According to an article in the Maclean's magazine, "Cable, satellite and wireless companies may be charging illegal late fees. Companies may calculate a compounded late-fee rate of two percent a month. However, because they charge even if a customer is late by one week, that can mean an effective annualized interest rate above the maximum allowed by the Criminal Code: 60 percent." (Maclean's November 28, 2005, p.16.)

1) Calculate the annualized interest rate these companies are charging if the penalty is two percent a month.

2) What if the penalty was two percent a week?

Reference no: EM13850219

Questions Cloud

Calculate measurement error using mse and mad : Calculate a 5-year moving average to forecast the number of mergers for 2012. Use the moving average technique to determine the forecast for 2005 to 2011. Calculate measurement error using MSE and MAD

Are all solids able to conduct an electric current : Are all solids able to conduct an electric current? Explain

Write a response paper summarizing your thoughts : Write a response paper summarizing your thoughts and feedback related to these articles. APA: Ethical Principles of Psychologists and Code of Conduct and Ethical Considerations in Writing Psychological Assessment Reports.

Relationship between beak size and percent of thistle : When given the relationship between beak size and percent of thistle seeds in the stomach is positive linear,given the relationship between beak size and percent of sunflower seeds in the stomach is negative linear.What's the relationship between the..

According to an article in the maclean''s magazine : According to an article in the Maclean's magazine, "Cable, satellite and wireless companies may be charging illegal late fees. Companies may calculate a compounded late-fee rate of two percent a month. However, because they charge even if a customer ..

Compute the cost to produce 300 units using machine 1 : Compute the cost to produce 300 units using machine #1 and then by machine #2, and using an =IF statement, tell me which machine is cheaper

The theory of constraints relate to continuous improvement : How might the theory of constraints be implemented in a Lean organization. How about in an Activity Based Management organization. How does the Theory of Constraints relate to continuous improvement

Streisand signed a recording contract : Around January 1, 1993, Barbara Streisand signed a recording contract with Sony Corporation for $2 million each year for 10 years. Suppose the first payment of $2 million was made on the day of signing the deal and all other payments to her were

Analyze the level of foreign aid that canada gives : Suppose you want to analyze the level of foreign aid that Canada gives to developing countries each year. You are told that Canada's aid depends on the population of these countries, their level of poverty, and how good governance is in these countri..

User Account

All Pages