Section 347 of the Criminal Code of Canada makes it illegal to charge more than 60% annual
Question:
Section 347 of the Criminal Code of Canada makes it illegal to charge more than 60% annual interest Is a private lender who is charging a rate of 4.2% per month operating within the law? Provide calculations to support your answer.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Since the interest is collected each month w...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
What makes a competitive advantage sustainable, and why is sustainability a critical strategy-making consideration Is sustainability knowable in the medium and long term .Why or why not Give an...
-
You are an Administrative Manager at the Hawthorne University, which is one month away from issuing final examinations to students in November. Once this has been completed, which usually takes a...
-
1. Classify each cost as fixed or variable (see below) 2. Calculate the annual cost for cost description (see below) Using the cost and sales data below, prepare Income Statements (to the 3. right)...
-
Rainbow manufactures wooden backyard playground equipment. Rainbow estimated $1,785,000 of manufacturing overhead and $2,100,000 of direct labour cost for the year. After the year was over, the...
-
Steam enters a closed feedwater heater at 1.1 MPa, 200oC and leaves as saturated liquid at the same pressure. Feedwater enters the heater at 2.5 MPa, 50oC and in an isobaric manner leaves 12oC below...
-
Graph the equation, using the x- and y-intercepts. x + y = 1
-
The official website of Major League Baseball, MLB.com, records detailed statistics about players and games. During the 2016 regular season, Dustin Pedroia of the Boston Red Sox had a batting average...
-
Marthas Wonderful Cookie Company makes a special super chocolate-chip peanut butter cookie. The company would like the cookies to average approximately eight chocolate chips apiece. Too few or too...
-
By using a chart what are the positive and negative aspects of allowing employees to work remotely? When evaluating the positive and negative viewpoints, be sure to assess items such as: Employee...
-
Air enters the compressor of a gas refrigeration system with a regenerator at -28 C at a flow rate of 0.75 kg/s. The cycle has a pressure ratio of four. The temperature of the air decreases from 12...
-
A bank offers a rate of 1.8% compounded semiannually on its four-year GIC. What monthly compounded rate should the bank offer on four-year GICs to make investors indifferent between the alternatives?
-
Marina deposited $1800 into an investment earning 6.4% compounded quarterly. When her investment is worth $2000, she will withdraw the money and make a down payment on a car. Rounded to the nearest...
-
What are some of the KSAs (knowledge, skills, and abilities) that are required for your current position or a position you wish to have in the future?
-
Sunset & Vine Wine Bar, a seasonal business, collected the following information for specific months of operation Month Hours Open Amount 280 Server labor costs September $5,600 February 2,400...
-
A particle starts from the origin with an initial velocity vo = (-22 +7.5+ 7k) m/s. The acceleration of the object has magnitude 4 m/s and it is directed along the negative z axis. Part A Determine...
-
What is the torque in the image? 2.2m 30 150N
-
The position vs. time graph below is for an object that is exhibiting SHM. The position function is: x(t) = Acos(at+D). Use this graph to fill in the table. x (m) AA 10 15 20 25 20 25 30 35 40 25 -25...
-
How would you make l a Personal Marketing Plan to market yourself? Give an example: In this situation, you consider yourself to be a "product" and develop a marketing plan to promote yourself career...
-
On January 1, 2019, Eddy Corporation had retained earnings of $610,000. During the year, Eddy had the following selected transactions. 1. Declared cash dividends $120,000. 2. Earned net income...
-
Using the information presented in Problem 13.4B, prepare a partial statement of cash flows for the current year, showing the computation of net cash flows from operating activities using the...
-
a. Costco (COST): 25%, Dollar Tree (DLTR): 25%, Expedia (EXPE): 25%, ScanDisk (SNDK): 25% b. COST: 10%, DLTR: 20%, EXPE: 30%, SNDK: 40% c. COST: 10%, DLTR: 10%, EXPE: 70%, SNDK: 10% d. Which...
-
a. Amazon (AMZN): 25%, Apple (AAPL): 25%, Bed Bath and Beyond (BBBY): 25%, Dollar Tree (DLTR): 25% b. AMZN: 10%, AAPL: 40%, BBBY: 10%, DLTR: 40% c. AMZN: 40%, AAPL: 30%, BBBY: 20%, DLTR: 10% d. Which...
-
Research objective: The population mean is greater than 0. = 10, n = 100, x = 1.5
-
29. You are standing on a balcony on the 15th floor of the Bank of America building in San Francisco. The balcony is 72 m above the ground; the top of the building is 52 floors (237 m) high. You...
-
(a) What is the kinetic energy in joules of a 1140-kg automobile traveling at 93 km/h? (b) How much work would have to be done to bring a 1140-kg automobile traveling at 93 km/h to a stop? 4. How...
-
A block of mass 2 kg is attached to a spring with a spring constant of 100 N/m. The block is released from rest and moves along a rough horizontal surface with a coefficient of friction of 0.2. How...
Study smarter with the SolutionInn App