Julie has a low credit rating, plus she was furloughed from her job 2 months ago. She
Question:
Julie has a low credit rating, plus she was furloughed from her job 2 months ago. She has a new job starting next week and expects a salary to start again in a couple of weeks. Since she is a little short on money to pay her rent, she decided to borrow $100 from a loan company, which will charge her only $10 interest if the $110 is paid no more than 1 week after the loan is made. What are the
(a) Nominal annual
(b) Effective annual
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (16 reviews)
Given Borrowed Amount 100 Charge 10 interest Interest rate 10 t 1 wee...View the full answer
Answered By
DANISH NAYYAR
I am a chemical engineering Major from BITS Pilani, which is one of the premier institutions for engineering in India. Around 2 lacs students appear for the entrance test and only about 2000 students are selected for admission. Until now, I have aced my examinations: I was in top 1% in country in 12th grade ICSE Board Examinations and had a very high percentage in my 10th grade Board Examinations as well. Even at college, I was consistently ranked under top 6 students of my entire batch every semester, the rank is decided considering the students from all branches and not just Computer Science. I topped many subjects- of Computer Science and Mathematics in particular. I graduated with an overall 4th rank in Computer Science.
I have been coding in JAVA from 8th grade. I am also proficient with C,C++, Scala, SQL and various other technologies.
I have always been approached by my peers to solve doubts, especially of Mathematics and Computer Science subjects in college. I was Teaching Assistant for the courses C Programming and Operating Systems in my college. For C Programming I mentored a batch of over 150 students for the psactice labs. I used to draft the practice lessons for the labs. I made it a point to help all those who could not perform well outside class hours. Eventually all my students performed well in their final examinations. For Operating Systems, I mentored around 100 students enrolled for the course. I helped them in understanding lecture notes and gave them practice questions. I was also one of the student mentors for the lab sessions.
I have done various internships at premier research institutions like Bhabha Atomic Research Centre and in top Multi-National Companies like Morgan Stanley and PayPal. This has given me a huge exposure to the industrial standards and best practices, which I use while teaching a concept. I also follow a lot of tech blogs to keep myself up-to-date with the current technology trends
I make it a point to give practical examples of concepts I am teaching to my students so that they understand better. I believe that this intuition helps them visualise everything in a clear manner and enable them to solve problems better. Time and again I have been appreciated by my students and have been given positive review. I have always loved teaching. When you teach, you not only help the others but learn a lot yourself. Chegg will give me an opportunity to propagate my passion and connect to students across the world and help them, something I am really looking forward to
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
For a corporate bond that has a low credit rating, why might an analytical duration be limited as a measure of interest-rate risk?
-
Required information Julie has a low credit rating, plus she was furloughed from her job 2 months ago. She has a new job starting next week and expects a salary to start again in a couple of weeks....
-
To start her lawn mower, Julie pulls on a cord that is wrapped around a pulley. The pulley has a moment of inertia about its central axis of and a radius of 5.00 cm. There is an equivalent frictional...
-
Lead nitrate solution is added to a test tube containing potassium iodide solution. (a) Write the name and colour of the compound precipitated. (b) Write the balanced chemical equation for the...
-
By substituting 1/(1 z) for z in the expansion Found in Exercise 1, derive the Laurent series representation (Compare with Example 2, Sec. 65.) (z-1) 1-2
-
what ways does political globalization transform the nature of state sovereignty, diplomacy, and international relations, and how does it affect the balance of power among global actors ?
-
Lakeview Sales Consultants completed the following transactions during the latter part of March: Requirement 1. Journalize the transactions of Lakeview Sales Consultants. Include an explanation with...
-
An engineering student bought a car at a local used car lot. Including tax and insurance, the total price was $3000. He is to pay for the car in 12 equal monthly payments, beginning with the first...
-
Purchase and sale data for Gardner Pool Supply\'s two products are presented below. Inventory Item A Inventory Item B Transaction Units Unit Cost Units Unit Cost Beginning inventory 150 $ 7.10 150 $...
-
Spieth Company employees had the following earnings records at the close of the November 30 Bi-weekly payroll period. Name o the Employee Weekly hours Hourly Rate Scott 80 16.50 Quageber 70 18.50...
-
A government-required truth-in-lending document showed that the APR was 21% and the APY was 22.71%. Determine the compounding frequency at which the two rates are equivalent.
-
Assume you deposit 25% of your monthly check of $5500 into a savings account at a credit union that compounds interest semiannually. (a) What are the payment and compounding periods? (b) Is the...
-
Suppose that a game has payoff matrix Calculate the expected values for the following strategies, and determine which of the following four situations is most advantageous to R: (a) R plays [.5 .5],...
-
Under what circumstances is stand-alone and market risk most relevant?
-
What are the similarities and differences between equity capital in investor-owned firms and fund capital in not-for-profit firms?
-
a. What are the two types of portfolio risk? b. How is each type defined? c. How is each type measured?
-
Describe the primary means by which investor-owned firms raise new equity capital.
-
Why might an investor-owned firm choose to issue different classes of common stock?
-
Which of the following is not an element of the fraud triangle? (a) Rationalization. (b) Financial pressure. (c) Segregation of duties. (d) Opportunity.
-
a. Determine the domain and range of the following functions.b. Graph each function using a graphing utility. Be sure to experiment with the window and orientation to give the best perspective of the...
-
Expectations play an important role in determining the level of economic activity and how the level of activity will change. What events might cause people to expect a recession? What events might...
-
Four mutually exclusive projects are being considered for investment. The life of the projects is expected to be 80 years. The sponsoring agency's MARR is 12% per year. Data for the projects are as...
-
Your company operates a fleet of light trucks that are used to provide contract delivery services. As the engineering and technical manager, you are analyzing the purchase of 55 new trucks as an...
-
A large mudslide caused by heavy rains will cost Sabino County $1,000,000 per occurrence in lost property tax revenues. In any given year, there is one chance in 100 that a major mudslide will occur....
-
A 10 L cylinder contains 100 mol mixture of propane, n-butane and iso-butane, where the compositions are 60 mol%, 15 mol% and 25 mol% respectively. The temperature inside the cylinder is 120C and are...
-
5. Two resistors, 10 and 15 2 are connected in series. The voltage applied to the circuits is 70 V. Calculate: A. The total resistance B. Current through the 10 resistor C. Voltage through the 10 2...
-
30. Use the expression L/2mr to make an estimate of the amount of kinetic energy due to orbital motion of an electron in the 2p state of hydrogen.
Study smarter with the SolutionInn App