Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 27, 2024

Justin took out a cash advance of $1,660 from Julin's City Pawn. The loan (cash advance) will be paid off over the next 2 years

Justin took out a cash advance of $1,660 from Julin's City Pawn. The loan (cash advance) will be paid off over the next 2 years by payments of $452.19 made semiannually at the beginning of each payment period. What nominal interest rate, mpounded semiannually, is Justin being charged? Choose BGN or END Round your answer (nominal interest rate) to two decimal places. PN=PV=$CN=PMT=$FV=$N=

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions

Question

(Appendix) ENDING INVENTORY, COST OF GOODS SOLD, AND GROSS MARGIN. Wilson Company sells a single product. At the beginning of the year, Wilson had 120 units in stock at a cost of $8 each. During the...

Answered: 1 week ago

Question

★★★★★

The presidents executive jet is not fully utilized. You judge that its use by other officers would increase direct operating costs by only $20,000 a year and would save $100,000 a year in airline...

Answered: 1 week ago

Question

★★★★★

Consider the Cumulated Balance Sheets for the Federal Reserve System and the Commercial Banking System. All figures are in billions of US dollars. Show how each transaction causes the money supply...

Answered: 1 week ago

Question

★★★★★

When the minimum wage is $9.50 per hour, answer the following questions: c. what 15 the wage being paid to these workers? d. what the number of workers with jobs? . what 15 the number of workers...

Answered: 1 week ago

Question

★★★★★

When patients do not pay their bills, and the practice is forced to write off the account, the amount owed is classified as __________ in accounting terms." Group of answer choices Bad Debt Accounts...

Answered: 1 week ago

Question

★★★★★

Sue's product mix problem. Sue's Crackpot Pottery Company is a one-person operation (headed by Sue) set up to make small handcrafted pottery items. Sue has designed two products, a turned flowerpot...

Answered: 1 week ago

Question

★★★★★

Evaluate own performance and adjust own performance if required to align with organisational values eg: do you make expectations clear do you lead by example do you provide appropriate coaching,...

Answered: 1 week ago

Question

★★★★★

Discussion Questions What ethical issues are the cause of the scandal? Winterkorn said that "I am not aware of any wrongdoing on my part." What do you think VW customers think? Investors? Employees?...

Answered: 1 week ago

Question

★★★★★

The technology company that you work for is designing a new microchip to be used in school classrooms. Your job as the employee is to determine the specs of the chip. They have told you that it will...

Answered: 1 week ago

Previous Question Next Question