Answered step by step
Verified Expert Solution
Question
1 Approved Answer
answer all plse, chegg allows four per question, thanks. QUESTION 1 Beautinator Cosmetics borrowed $152,300 from a bank for three years. If the quoted rate
answer all plse, chegg allows four per question, thanks.
QUESTION 1 Beautinator Cosmetics borrowed $152,300 from a bank for three years. If the quoted rate (APR) is 12.67 percent, and the compounding is daily, what is the eflective annual rate (EAR)? QUESTION 2 You have just inherited 5364 821. You plan to save this money and continue to live off the money that you are earning in your current job. If you can Invest the money in a bond that pays 6.65 percent interest annually how long will it be before your inheritance is worth $1,022,614? QUESTION 3 You are in desperate need of cash and turn to your uncle, who has offered to lend you some money You decide to borrow $1,397 and agree to pay back $1777 in 2 years Alternatively, you could borrow from your bank that is charging 65 percent interest annually Should you go with your uncle of the bank Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started