Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 17, 2024

Debbie has a $400 loan and makes 12 monthly payments during the year. The stated interest rate for her loan is 9%. What is Debbies

Debbie has a $400 loan and makes 12 monthly payments during the year. The stated interest rate for her loan is 9%. What is Debbies annual percentage rate (APR)?

a) 33.33%

b) 16.61%

c) 13.59%

d)9.00%

e)0.75%

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

Recommended Textbook for

Emile Woolf On Audit Exemption

Authors: Emile Woolf

1st Edition

0863253911, 978-0863253911

More Books

Students also viewed these Accounting questions

Question

★★★★★

Why do the income and capital gains component of the total return differ between common shares and bonds?

Answered: 1 week ago

Question

★★★★★

2. What are some considerations that are necessary to determine duration of activities?

Answered: 1 week ago

Question

★★★★★

=+11.47 The article Portable MP3 Player Ownership Reaches New High (Ipsos Insight, June 29, 2006) reported that in 2006, 20% of those in a random sample of 1112 Americans age 12 and older indicated...

Answered: 1 week ago

Question

★★★★★

A new machine can be purchased today for $300,000. The annual revenue from the machine is calculated to be $67,000, and the equipment will last 10 years. Expect the maintenance and operating costs to...

Answered: 1 week ago

Question

★★★★★

Debbie has a $400 loan and makes 12 monthly payments during the year. The stated interest rate for her loan is 9%. What is Debbies annual percentage rate (APR)? a) 33.33% b) 16.61% c) 13.59% d)9.00%...

Answered: 1 week ago

Question

★★★★★

Explain the term "M1 and M3" and how it's current movement in Malaysia? Can money supply changes forecast stock-price changes?

Answered: 1 week ago

Question

★★★★★

Who are Netflix s competitors and why would they be likely to take action against Netflix? Include the role of market commonality and resource similarities. Why does Netflix appear to have a...

Answered: 1 week ago

Question

★★★★★

As shown in [Figure 1-14], the rotatable dump is connected to the truck's bed by a hinge at the support point C and supported by the hydraulic cylinder AB . The weight of the dump is 5 [kN], and the...

Answered: 1 week ago

Question

★★★★★

The present value of a future amount was calculated to be R207,54 at a discount rate of 5% and the present value of the same future amount was calculated to be R183,30 at a discount rate of 6%. Use...

Answered: 1 week ago

Question

★★★★★

Use the data from the following file (Fish.csv) table pasted below for running linear regression. Weight Length1 Length2 Length3 Height Width 242 23.2 25.4 30 11.52 4.02 290 24 26.3 31.2 12.48 4.3056...

Answered: 1 week ago

Question

★★★★★

In the mechanism shown in Fig. 2.53, the crank AB, 70 mm long, rotates clockwise at 110 rev/min. CD is 140 mm long. Link BD is 260 mm long and slides through a swivelling pin E at the lower end of...

Answered: 1 week ago

Question

★★★★★

Flexibility. Organizations are introducing new working patterns and abandoning some traditional ones, influenced by economic transformation and savings in labour costs; however, part-time working has...

Answered: 1 week ago

Question

★★★★★

Recruitment and redundancy. Skills shortages as a result of loss of employees and lower wages in the state- and former state-owned organizations has led to targeting of school leavers, the long-term...

Answered: 1 week ago

Question

★★★★★

Underestimation of the complexities of a free market, with a tendency to rely on imported solutions. Western managers, they recommend, should encourage a blend of HRM involving both free market...

Answered: 1 week ago

Previous Question Next Question