Tami Dreyfus bought a television set with money borrowed from the bank at 9% interest compounded semiannually.
Question:
Tami Dreyfus bought a television set with money borrowed from the bank at 9% interest compounded semiannually. What effective interest rate did she pay?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
So Tami paid an effective interest rate of about 78 on the loan To calculate the effective interest ...View the full answer
Answered By
Surendar Kumaradevan
I have worked with both teachers and students to offer specialized help with everything from grammar and vocabulary to challenging problem-solving in a range of academic disciplines. For each student's specific needs, I can offer explanations, examples, and practice tasks that will help them better understand complex ideas and develop their skills.
I employ a range of techniques and resources in my engaged, interesting tutoring sessions to keep students motivated and on task. I have the tools necessary to offer students the support and direction they require in order to achieve, whether they need assistance with their homework, test preparation, or simply want to hone their skills in a particular subject area.
0.00
0 Reviews
10+ Question Solved
Related Book For
Calculus With Applications
ISBN: 9780321831101
10th Edition
Authors: Margaret L Lial, Raymond N Greenwell, Nathan P Ritchey
Question Posted:
Students also viewed these Mathematics questions
-
Vicki bought a television set with money borrowed from the bank at 9% interest compounded semiannually. What effective interest rate did she pay?
-
Thompson Limited, a private company with no published credit rating, completed several transactions during 2017. In January, the company bought under contract a machine at a total price of $1.2...
-
Thompson Limited, a private company with no published credit rating, completed several transactions during 2020. In January, the company bought under contract a machine at a total price of $1.2...
-
Consider the Cobb-Douglas production function f(x, y) = 300x0.85, 0.15 When x = 4000 and y = 800, find the following. (Round your answers to two decimal places.) (a) the marginal productivity of...
-
An apparel manufacturer purchases cotton and other raw materials for the production of shirts. Would the sale of cotton from a cotton mill to the shirt manufacturer be included in the calculation of...
-
Give the coordination number of the transition element in each of the following complexes. a. [Ni(NH3)6](ClO3)2 b. [Cu(NH3)4]SO4 c. [Cr(en)3]Cl3 d. K2[Ni(CN)4]
-
What is a function of the compressor? How do you classify the compressors? Explain the various basis of classification.
-
Griffin and Lasky, Inc. (G&L) supplies industrial automation equipment and machine tools to the automotive industry. G&L uses the percentage of completion method for recognizing revenue on its...
-
Robin Kim deposits $7500 of lottery winnings in an account paying 6% interest compounded monthly. What effective rate does the account earn?
-
Find the present value of each amount. $10,000 if interest is 6% compounded quarterly for 8 years
-
Your financial planner offers you two different investment plans. Plan X is a $15,000 annual perpetuity. Plan Y is a 10-year, $31,000 annual annuity. Both plans will make their first payment one year...
-
You are a pharmacist talking to a patient. The patient remarks, I really dont understand why the FDA has to approve every drug before it can be marketed. I have cancer, and there is a very promising...
-
Before buying a house, Dean and Donna Testa hired Ground Systems, Inc. (GSI), to inspect the sewage and water disposal system. GSI reported a split system with a watertight septic tank, a wastewater...
-
Peter Gowin was an employee of a granite countertop business owned by Joann Stathis. In November 2022, Gowin signed a promissory note agreeing to pay $12,500 in order to become a co-owner of the...
-
If Sue made the root product as a topical patch, why might your answer be different?
-
Robert Durbin, a student, borrowed funds from a bank for his education and signed a promissory note for their repayment. The bank loaned the funds under a federal program designed to assist students...
-
A confidence interval for the price of gasoline from a random sample of 30 gas stations in a region gives the following statistics: y = + 4.49 s = + 0.29 a) Find a 95% confidence interval for the...
-
Saccharin is an artificial sweetener that is used in diet beverages. In order for it to be metabolized by the body, it must pass into cells. Below are shown the two forms of saccharin. Saccharin has...
-
Write each function as the composition of two functions. (There may be more than one way to do this.) y = -13 + 7x
-
In Exercises, use the quotient rule to find the derivative of each function. y || x8 + zx- 4x - 5
-
Find the derivative of each function. y In x 4x + 7
-
1. Explain what is a bond and its characteristics, how does it differs from stocks? 2. Explain the main differences between bond and stocks. How would you choose to invest $1,000: bonds, stocks, or...
-
In 2018, Gig Harbor Heavy Metal, Inc. announced an after tax profit of $587,990. In 2019, it announced an after tax profit of $571,222. What is the percent change in after tax profits from 2018 to...
-
What is Data Warehouse and explain data warehouse Architecture ? Explain the major components of a data warehouse architecture, including the various forms of data transformations needed to prepare...
Study smarter with the SolutionInn App