Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Description Term To estimate the annual rate, divide the interest paid by half the amount received. Firms evaluate the likelihood of a customer being unable

Description Term
To estimate the annual rate, divide the interest paid by half the amount received.
Firms evaluate the likelihood of a customer being unable to pay on their account.
This is used by banks to assure payment of loans to privately held companies.
Benefits can be used to repay a loan in the case of the death of an owner or important employee.
This type of discount is used most often in seasonal businesses.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Records And Information Management

Authors: William Saffady

4th Edition

1538152541, 978-1538152546

More Books

Students also viewed these General Management questions

Question

the logic of controlling

Answered: 1 week ago