Compute the nominal annual interest rate for the loan

Assignment Help Microeconomics
Reference no: EM132157857

Question: A local lending institution advertises the "51-50 Club." A person may borrow $2000 and repay $51 for the next 50 months, beginning 30 days after receiving the money. Compute the nominal annual interest rate for this loan. What is the effective interest rate? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132157857

Questions Cloud

Local responsiveness and international integration : What is product life cycle and how is it related to international strategy? Describe the trade-off between local responsiveness and international integration.
How is group membership legitimated : What symbolic meanings do members of this subculture attach to adherence to or disregard for the rules? How is group membership legitimated?
What effective annual interest did king henry pay : In 1555 King Henry borrowed money from his bankers on the condition that he pay 5% of the loan at each fair (there were four fairs per year) until he had made.
What should the market value of the stock : What should the market value of the stock be if the required rate
Compute the nominal annual interest rate for the loan : A local lending institution advertises the "51-50 Club." A person may borrow $2000 and repay $51 for the next 50 months, beginning 30 days after receiving.
Social changes have prompted these new angles : What topics are you finding in the news today? What new angles are being presented? What current events or social changes have prompted these new angles?
What have your own experiences with illegal stimulants been : Is there a specific type of person or image that is connected to these kinds of drugs, and does that stereotype differ widely from stimulant to stimulant.
Determine average time customers spend at the machine : Determine the average time customers spend at the machine, including waiting in line and completing transactions.
Who happened to have marketing background : One day the new CEO of the Food Service Division (who happened to have a Marketing background) stopped by your office with a sheet of paper,

Reviews

Write a Review

Microeconomics Questions & Answers

  Briefly assess the equity of informal credit markets

Briefly assess the efficiency and equity of informal credit markets in light of your explanations.

  The highland commodities company is a typical firm

The Highland Commodities Company is a typical firm in a perfectly competitive market has a cost structure described by the equation: C = 25 - 4QF + Q2F where QF is measured in thousands of units.

  Examine the major pros and cons of antitrust regulations

Case Study: The Antitrust Case on the AT&T / T-Mobile Merger. Examine the major pros and cons of antitrust regulations based upon factors in this case.

  Identify companys domestic economic environment

Using your chosen company's domestic environment identify its economic environment and compare and contrast it using Rostow and Galbraith.

  Have you engaged in some preliminary research on your topic

Have you engaged in some preliminary research on your topic/s of interest? What do you expect to find when you research the topic?

  Determining the country level of economic development

The rate of economic progress in a country seems to depend on the extent to which the country has a well-functioning market economy in which property rights.

  What is the slope of equation

In forecasting, MacDonald's Wing® discovered that when it opened its store to the public, it was able to sell 5,000 parachutes in the first year. Given the equation; y=a+bx. Where 'y' represents the number of sales and 'a' is the number they s..

  Euros and earn four percent on a one-year bank deposit

A U.S. resident can earn 6 percent interest on a one-year bank deposit of $100,000 at home. Alternatively, she can convert the $100,000 into Euros and earn 4 percent on a one-year bank deposit in Germany. If the exchange rate is initially 1.5 Euros p..

  Obtain income elasticity of demand

Obtain Income elasticity of demand and Calculate the quantity demanded for goods 1 and 2 at these prices and this income level.

  What deps performance is if we use three-day service window

Diagram the DEP/GARD supply chain. What stages are adding value? What stages are not? "Exactly. And do you know what DEP's performance is if we use a 3-day service window?"

  Consider the following class of estimatorswsuba

consider the following class of estimatorswsuba 1a1y11a2y21a3y31a4y4 where ai are the constants.a what restriction on

  Explain is there any solution to the dilemma

Public Choice theorists have emphasized that there is a bias toward growth in government due to the "concentration of benefits" and the "diffusion of burdens" (or costs) from government spending. Some people, like Wilhelm Ropke.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd