You are late paying your cable bill again. It was due 9 days ago and you have

Fantastic news! We've Found the answer you've been seeking!

Question:

You are late paying your cable bill again. It was due 9 days ago and you have been charged $21. Your bill was $162. What is the annual percentage rate (APR)? Convert to a percent and round to 2 decimal places.

please use this formula - APR = ((Interest + Fees / Principal or Loan amount) / N or Number of days in loan term)) x 365 x 100.

Related Book For answer-question

Intermediate Financial Management

ISBN: 978-1111530266

11th edition

Authors: Eugene F. Brigham, Phillip R. Daves

See More Books

Posted Date: Apr 16, 2024 03:44 AM

See More Questions

A requirement exists for a circuit to deliver o to $6 \mathrm{~V}$ to a $100-\Omega$ load from a $24-\mathrm{V}$ source rated at $3.0 \mathrm{~W}$. Two proposed circuits are shown in Figure P...
1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...
For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...
Michael Mayfield, the president of Mendo Mill and Lumber Co., in California, received a notice of a legal claim from Edward Starski. The claim alleged that a stack of lumber had fallen on a customer...
In how many ways can you select five people from a group of eight if the order of selection is important?
Assume that Darrell randomly selected a sample of 7 5 credit memo packages, each of which contains a credit memo with a matching receiving report and inventory warehouse receipt, and has reviewed all...
For each of the following sets of data, (1) calculate the mean of the scores $\left(\mathrm{X}^{-} ight),(2)$ calculate the deviation of each score from the mean $\mathrm{X}-\mathrm{X}^{-}$, and...
A bank has three types of accounts: checking, savings, and loan. Following are the attributes for each type of account: CHECKING: Acct No, Date Opened, Balance, Service Charge SAVINGS: Acct No, Date...
Question: The following activities occur at Greenwich Corporation, a company that contracts out a temporary workforce to retailers to meet seasonal demand:Required:Classify each of the activities...
F You recently overheard that your company's competitors have started to purchase their materials from an online marketplace. You identify your company's top three products and collect information...
Compare and contrast the conceptual and physical properties of money.
Compare and contrast open market operations and reserve requirement.
Compare and contrast monetary policy and fiscal policy.
Compare and contrast the terms public interest and public benefit in the context of public financial management.
Discuss M1, M2 and M3 monetary aggregates.
a) Should state divorce laws consider DV when it concerns property division or alimony? What does your state statute state in that regard? b) What are your state's criminal penalties for...
Starr Co. had sales revenue of $540,000 in 2014. Other items recorded during the year were: Cost of goods sold ..................................................... $330,000 Salaries and wages...
Given the four criteria necessary for a sale to be complete, which of the following is not one of those conditions? 1. Delivery has occurred or services rendered. 2. Cash has been collected. 3. The...
What is the difference between a business and a pure charity? Between a business and a governmental agency?
Sketch the $P-V$ phase diagram for helium-4 using the sketch of the $P-T$ phase diagram in Figure 4.3. Ps P S superfluid Pe T To T FIGURE 4.3 Sketch of the P-T phase diagram for helium-4. The...

You are late paying your cable bill again. It was due 9 days ago and you have

Question:

Expert Answer:

Given Interest Fees 21 Principal Bill amount 162 Number of days late 9 Usi... View the full answer

Intermediate Financial Management

Students also viewed these accounting questions