Note:---
If you satisfied with my answers please thumbs-up sir it is motivate for me
If you have any doubts then comment below I am very happy to solve your doubts
3-41 A beal store charges 1²% each month on the unpaid bolonce for its charge account...
Amocmet 3 pts I Question 33 and company charges 1.5% /month for unpaid balance then the effective ADedt ate of interest per month is: 24 0
(Answers: 12%; 12.68%) 3-39 A fim charges its credit customers 134% interest per month. What is the effective interest rate? TF IL To
Z-Mart uses the perpetual inventory system and has its own credit card. Z-Mart charges a per-month interest fee for any unpaid balance on its store credit card at each month-end. Apr. 30 Z-Mart sold merchandise for $2,200 (that had cost $1,250) and accepted the customer’s Z-Mart store credit card. May 31 Z-Mart recorded $4 of interest earned from its store credit card as of this month-end. Prepare journal entries to record the above credit card transactions of Z-Mart.
3. Value 1.00 points If regular month-end deposits of $200 in an Investment account amounted to $7,727 62 after three years, what monthly compounded nominal rate and effective rate of interest were earned on the account? (Round 9% compounded monthly
What monthly payment is required to amortize a loan of $35,000 over 10 yr if interest at the rate of 15%/year is charged on the unpaid balance and interest calculations are made at the end of each month? (Round your answer to the nearest cent.)
Ricky Ripov’s Pawn Shop charges an interest rate of 12% per month on loans to its customers. a. What is the Annual Percentage Rate? b. What is the Effective Annual Rate?
Ricky Ripoy's Pawn Shop charges an interest rate of 12% per month on loans to its customers. a. What is the Annual Percentage Rate? b. What is the Effective Annual Rate?
1. An appliance store has been selling 240 microwave ovens at $100 each every month. A market survey indicates that for each $6 increase in the price, the number of microwave ovens sold will decrease by 30 per month. It costs the store $46 to purchase each microwave oven from the manufacturer. A) Find the demand function, expressing p, the price charged for each microwave oven, as a function of x, the number of microwave ovens sold each month. B)...
help. which one is correct? 3. 1% nominal rate per month is equivalent to an effective rate of 12% per year, compounded yearly? . AT&T 10:38 PM 76% Expert Q&A D + Economics Analysis chapter 3. thanks 3. 19 nominal rate per month is equivalent to an effective rate of 12% per year. compounded yearly Do Expert Answer Anonymous 9 minutes later The statement given above is false. At 1% nominal rate per month, effective interest rate will be =...
2) An individual contributes $400 per month to a 401(k) retirement account. The account earns interest at a nominal annual interest rate of 6% (APRs 696) with interest being credited yearly, what is the value of the account after 40 years (to the nearest 1,000)? a) $736,000 b) $743,000 c) $797,000 d) $918,000