Explain the difference between a 10% rate charged on a payday loan and a 10% rate charged
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
The 10 rate charged by a bank is the annual rate The amount you pay will b...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Corporate Finance questions
-
What are your responsibilities if you cosign a loan? What are the potential con-sequences of failing to live up to your responsibilities as a cosigner?
-
What if Beth had made the same loan as an add-on interest loan? How would her payments differ? Why is there a difference?
-
Advise the Sampsons on possible loan maturities. Access an online loan payment calculator. Input information to determine the possible monthly car payments for a three- year (36- month) payment...
-
Write a reflective paper about Disability Network West Michigan
-
Derek contributed a tract of undeveloped land to the Nightingale Partnership in 2012. He originally paid $20,000 for the property in 2002, but its value was $70,000 at the date of the contribution....
-
In what ways did Livent understate the expenses in the financial statements? (a) It erased expense invoices from the accounting system. (b) It deferred expenses by transferring costs from a current...
-
Explain the difference between express, implied, and corporate authority.
-
Millhouse graduated 5 years ago with a degree in business administration and is currently employed as a middle level manager for the same firecracker company his dad already worked for. His current...
-
Part A: In January of 2024, two taxpayers decided to begin a new business venture that produces premium dog food. They form the venture as a partnership. Aaron (age 33, single, and currently facing a...
-
The unadjusted trial balance of LeBrun Company at its year end, July 31, 2021, is as follows: Adjustment information: 1. The July 31 bank statement reported debit memos for service charges of $50 and...
-
Explain how collateral works. Do all loans have collateral? What is the relationship between collateral and interest rates?
-
Jack needs to borrow $ 1,000 for the next year. Bank South will give him the loan at 9%. SunCoast Bank will give him the loan at 7% with a $ 50 loan origination fee. First National will give him the...
-
New England Rock Services, Inc., agreed to work as a subcontractor on a sewer project on which Empire Paving, Inc., was the general contractor. For drilling and blasting a certain amount of rock,...
-
The control equation states:________ = Desired Performance Actual Performance. (a) Problem Magnitude (b) Management Opportunity (c) Planning Objective (d) Need for Action
-
What are the major differences in potential outcomes of using the force-coercion, rational persuasion, and shared power strategies of planned change?
-
When a problem is addressed according to the positive or negative context in which it is presented, this is an example of ____________. (a) framing error (b) escalating commitment (c) availability...
-
Explain the practical significance of this statement: Organizational design should be done in contingency fashion.
-
A manager using a force-coercion strategy will rely on_________ to bring about change. (a) expertise (b) benchmarking (c) formal authority (d) information
-
An account pays 2.5% interest compounded monthly. To the nearest hundredth of a percent, what is the effective interest rate?
-
The Alert Company is a closely held investment-services group that has been very successful over the past five years, consistently providing most members of the top management group with 50% bonuses....
-
a. What is the role today of the Export-Import Bank of the United States? b. Describe the Direct Loan Program administered by the Export-Import Bank.
-
What are bills of lading and how do they facilitate international trade transactions?
-
What is forfaiting? Specify the type of traded goods for which forfaiting is applied.
-
es Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 100,000 direct labor-hours would be required...
-
On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock...
-
Hubs Sprockets Direct Labor-Hours per Unit Annual Production 0.50 29,000 units 0.10 57,000 units Additional Information about the company follows: a. Hubs require $27 in direct materials per unit,...
Study smarter with the SolutionInn App