Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 05, 2024

Ms Jennifer has borrowed 1000 from her cousin who is very business minded. Her cousin has said that she has to pay 1.5% interest every

image text in transcribed

Ms Jennifer has borrowed 1000 from her cousin who is very business minded. Her cousin has said that she has to pay 1.5% interest every month. What is the APR on her loan? 19.56% 6.136% 18% 1.50%

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

Financial Literacy For Managers

Authors: Richard A. Lambert

1st Edition

1613630182, 978-1613630181

More Books

Students also viewed these Finance questions

Question

★★★★★

The drawing shows an ideal gas confined to a cylinder by a massless piston that is attached to an ideal spring. Outside the cylinder is a vacuum. The crosssectional area of the piston is A = 2.50 ...

Answered: 1 week ago

Question

★★★★★

Compute cash generated from operations during the year 2012-13, from the following data: Particulars Sundry debtors Sundry creditors Outstanding expenses Outstanding income Stock in trade Prepaid...

Answered: 1 week ago

Question

★★★★★

What is the work environment like? Friendly/collegial?

Answered: 1 week ago

Question

★★★★★

If Quail Company invests $ 50,000 today, it can expect to receive $ 10,000 at the end of each year for the next seven years, plus an extra $ 6,000 at the end of the seventh year. What is the net...

Answered: 1 week ago

Question

★★★★★

QUESTION 2 What is defined as a condition in which a company is unable to meet debts as the debts mature? Liability Deficit Insolvency Credit squeeze QUESTION 4 When a debtor files a petition socking...

Answered: 1 week ago

Question

★★★★★

3 A sanction by which a juvenile offender pays his or her victim for the harm done by the juvenile is called_________. victim restitution victim rehabilitation victim justice release intake

Answered: 1 week ago

Question

★★★★★

Now, suppose Grant had a stopwatch and starts the stopwatch when Alan starts running. Grant notices that Alan reaches his max speed when the stopwatch reads 8 seconds, and Alan is at the 60 yard-line...

Answered: 1 week ago

Question

★★★★★

An electric motor raises the container of a liquid a vertical distance of 7.5 m in only 6.0 s. During this time its power input is 9.5 kW. a) How much work does the motor do on the liquid? b) How...

Answered: 1 week ago

Question

★★★★★

As your final task as a sales and marketing intern, you have been asked to evaluate a further promotional plan for 1 month-this time to boost occupancy rates at the Crystal Hotel. This will include a...

Answered: 1 week ago

Question

★★★★★

Suppose a jet's fuselage measures 80 feet long and 7 feet in diameter. Our objective is to design a reference wing for it using the following parameters: The subsonic aerodynamic center at 0.25c is...

Answered: 1 week ago

Question

★★★★★

Coffeex is a leading coffee importer and distributor for coffee capsules. The worldwide volume of coffee exports rose to a record of 4.5 billion tones in 2010, or $7 billion. Coffeex was the first...

Answered: 1 week ago

Question

★★★★★

3.52 What is the joint probability of high income and never? Table 3.10 Probabilities for Television Viewing and Income VIEWING FREQUENCY Regular Occasional Never Totals HIGH INCOME MIDDLE INCOME LOW...

Answered: 1 week ago

Question

★★★★★

3.51 An editor may use all, some, or none of three possible strategies to enhance the sales of a book: a. An expensive prepublication promotion b. An expensive cover design c. A bonus for sales...

Answered: 1 week ago

Question

★★★★★

3.47 A stock market analyst claims expertise in picking stocks that will outperform the corresponding industry norms. This analyst is presented with a list of 5 high-technology stocks and a list of 5...

Answered: 1 week ago

Previous Question Next Question