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Question: Ricky Ripov's Pawn Shop charges an interest rate of 12.75 percent per month on loans to its customers. Like all lenders, Ricky must report an APR to consumers.
What rate should the shop report? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Annual percentage rate %
What is the effective annual rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Effective annual rate %
What is the amount you would have to deposit today to be able to take out $4820 a year for 7 years from an account earning 15 percent.
McGComputers was founded in 1986 by Jason McGinley. It is an independent firm specializing in the sale and repair of computers, operating from a premises fronting onto the main street of a large town.
(Nonannual compounding) George is considering buying a new house and has to borrow $50,000 to pay for it. He plans to take a mortgage loan from a bank.
Identifying Use a graphic organizer like the one below to identify the causes and effects of the Great Depression.
acting as the ceo of a small company called sunflower nutraceuticals snc you will apply the principles of capital
Hettenhouse Corporation's perpetual preferred stock sells for $102.50 per share, and it pays a $9.50 annual dividend. If the corporation were to sell a new preferred issue,
The fixed income market is longer term T-Notes and T-Bonds, municipal bonds, corporate bonds, and even mortgages. How does a single mortgage become a liquid asset? And what is the approximate vale of the fixed income markets worldwide?
Discuss carefully the following quotation: "It is reasonable to assume that business can pass along the full value of the value-added tax to final consumers.
Explain why the income statement can also be called a “profit-and-loss statement.” What exactly does the word balance mean in the title of the balance sheet? Why do we balance the two halves?
A company signs a note payable for $3,500 at 9% for 45 days. How much interest (to the nearest cent) will the company owe using a 360-day year?
Suppose that starting one year from now you will receive $320 a year at the end of every year. If the discount rate is 1% what is this stream of cash flows?
The original rate schedule was $10.00 per kW and $0.04 per kWh. There are also flat fees totaling $800 per month.
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