Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 04, 2024

If a bank's nominal APR is 12% and they operate on a 360-day year, what is the daily interest rate? O a. 0.00033 O b.

If a bank's nominal APR is 12% and they operate on a 360-day year, what is the daily interest rate? O a. 0.00033 O b. 0.0013 O c 0.0023 O d. 0.0323 O e. 0.0333

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

The New Public Finance

Authors: Inge Kaul, Pedro Condeicao

1st Edition

0195179978, 978-0195179972

More Books

Students also viewed these Finance questions

Question

★★★★★

Jason was promised $48,000 in 10 years if he would deposit $14,000 today. What would his compounded annual return be?

Answered: 1 week ago

Question

★★★★★

Bradleys materials quantity variance for the current month was exactly one-half of its materials price variance. Both variances were unfavorable. The companys cost accountant has supplied the...

Answered: 1 week ago

Question

★★★★★

Who is the client?

Answered: 1 week ago

Question

★★★★★

James builds brick walls for custom homes. His annual sales are approximately $300,000, and his net income is $18,000. He has assets of $100,000 invested in this business. Tom sells window shades....

Answered: 1 week ago

Question

★★★★★

If a bank's nominal APR is 12% and they operate on a 360-day year, what is the daily interest rate? O a. 0.00033 O b. 0.0013 O c 0.0023 O d. 0.0323 O e. 0.0333

Answered: 1 week ago

Question

★★★★★

All of the following are examples of potential energy except a batteries b firewood c gasoline d light

Answered: 1 week ago

Question

★★★★★

A major U.S. oil company has developed two blends of gasoline. Managers are interested in determining whether a difference in mean gasoline mileage will be obtained from using the two blends. As part...

Answered: 1 week ago

Question

★★★★★

Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for a possible future...

Answered: 1 week ago

Question

★★★★★

Required information [The following Information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. December 1 Sanyu Sony...

Answered: 1 week ago

Question

★★★★★

2. Individual Problems 17-2 You're a contestant on a TV game show. In the final round of the game, if contestants answer a question correctly, they will increase their current winnings of $3 million...

Answered: 1 week ago

Question

★★★★★

Pharmaceutical Benefits Managers (PBMs) are intermediaries between upstream drug manufacturers and downstream insurance companies. They design formularies (lists of drugs that insurance will cover)...

Answered: 1 week ago

Previous Question Next Question