Calculating the Annual Percentage Rate. If Dave paid the $500 in 12 equal monthly payments, what was
Question:
Calculating the Annual Percentage Rate. If Dave paid the $500 in 12 equal monthly payments, what was the APR?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
Computation of the following Formula APR ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Focus On Personal Finance
ISBN: 9780077861742
5th Edition
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Accounting questions
-
Calculating the Annual Percentage Rate. Dave borrowed $500 on January 1, 2006, and paid it all back at once on December 31, 2006. What was the APR? (Reminder: Dave borrowed $500 for 1 year and paid...
-
What is the annual percentage rate on a loan with a stated rate of 2.75 percent per quarter? 11.00 percent 11.09 percent 11.18 percent 11.27 percent 11.31 percent
-
Use Table 12-1 to find the annual percentage rate for the loan in Exercise 3. In exercise 3, the installment price of a Bosch stainless steel refrigerator is $2,199.99 for an 18-month loan. If a $300...
-
An array is bitonic if it consists of an increasing sequence of keys followed immediately by a decreasing sequence of keys. Given a bitonic array, design a logarithmic algorithm to find the index of...
-
A 1.5-kg specimen of a 90 wt% Pb-10 wt% Sn alloy is heated to 250C (480F); at this temperature it is entirely an -phase solid solution (Figure 9.8). The alloy is to be melted to the extent that 50%...
-
You work for a large sporting goods chain that would like to focus all of its local philanthropic activities in one area. You believe the company could benefit from a mission marketing program. What...
-
If a material expands freely due to heating, it will develop (a) Tensile stress (b) Compressive stress (c) Shear stress (d) No stress
-
A gas turbine power plant receives a shipment of hydrocarbon fuel whose composition is uncertain but may be represented by the expression CxHy. The fuel is burned with excess air. An analysis of the...
-
Discuss the principles of affinity-based extraction methods, such as molecularly imprinted polymers (MIPs) and ion-exchange resins, and their applications in selective extraction of target analytes...
-
1. What are the key elements of the Turner Field marketing effort? 2. What aspect of the planning of Turner Field, home of the Atlanta Braves, may have been influenced by research using secondary...
-
On January 1, 2013, Laura's Living Company has the following defined benefit pension plan balances Accumulated Postretirement benefit obligation .....................$5,700,000 Fair value of plan...
-
As a result of their divorce, Fred agrees to pay alimony to Tammy of $20,000 per year. The payments are to cease in the event of Freds or Tammys death or in the event of Tammys remarriage. In...
-
To four decimal places, the values of log 10 2 and log 10 9 are Use these values and the properties of logarithms to evaluate each expression. log 10 18 log10 2 = 0.3010 and log10 9 = 0.9542.
-
Three former college classmates have decided to pool a variety of work experiences by opening a store near campus to sell wireless equipment to students. The business has been incorporated as...
-
Suppose your target company is AAPL. calculate the estimated price of AAPL using the average PE ratio of comparable companies. Ticker PE Target AAPL Comparable DELL ARW BABA GOOG FB 36.38 24.01 15.8...
-
Directions: Watch the TED Talk "The Puzzle of Motivation" by Dan Pink: (https://www.ted.com/talks/dan_pink_on_motivation). Complete the worksheet while you watch the video. The answers will go in...
-
The communication style of a leader you are familiar with or admire. Include examples outlining what about their style you are impressed with. Describe how you will incorporate this style into your...
-
Find any stock you want to research. You can find ticker symbol from Google, Yahoo! Finance, MSN money, and so on (i.e. The ticker symbol of Apple Inc. is "AAPL"). - Run the following steps. 1)...
-
The density of liquid sulfur dioxide is 1.43 g/mL, and that of the gas is 0.00293 g/mL at standard temperature and pressure. Account for the large diff erence between these two densities.
-
The rate at which the temperature of an object changes is proportional to the difference between its own temperature and the temperature of the surrounding medium. Express this rate as a function of...
-
A lawsuit can be brought in a federal court if it involves a. a question under the Constitution, a treaty, or a federal law. b. citizens of different states, a foreign country and a U.S. citizen, or...
-
Non constant Dividends Spears, Inc., has an odd dividend policy. The company has just paid a dividend of Si per share and has announced that it will increase the dividend by $4 per share for each of...
-
Non constant Dividends North Side Corporation is expected to pay the following dividends over the next four years: $8, $7, $5, and $2. Afterward, the company pledges to maintain a constant 5 percent...
-
Supernormal Growth Rizzi Co. is growing quickly. Dividends are expected to grow at a 25 percent rate for the next three years, with the growth rate falling off to a constant 7 percent thereafter. If...
-
In the context of solid-liquid extraction, how do particle size distribution, porosity, and surface area of the solid matrix impact extraction kinetics and overall efficiency? Provide examples of...
-
Discuss the challenges and opportunities associated with the extraction of bioactive compounds from natural sources using environmentally benign solvents and green extraction techniques, such as...
-
The driver of a car traveling at 31.9 m/s applies the brakes and undergoes a constant deceleration of 1.12 m/s 2 . How many revolutions does each tire make before the car comes to a stop, assuming...
Study smarter with the SolutionInn App