Business
Business, 20.09.2019 18:10, jeremiahsingleton

Acheck-cashing store is in the business of making personal loans to walk-up customers. the store makes only one-week loans at 6.4 percent interest per week. a. what apr must the store report to its customers? what is the ear that the customers are actually paying? (do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e. g., 32.16.) b. now suppose the store makes one-week loans at 6.4 percent discount interest per week. what’s the apr now? the ear? (do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e. g., 32.16.) c. the check-cashing store also makes one-month add-on interest loans at 6.4 percent discount interest per week. thus, if you borrow $140 for one month (four weeks), the interest will be ($140 × 1.0644 ) − 140 = $39.43. because this is discount interest, your net loan proceeds today will be $100.57. you must then repay the store $140 at the end of the month. to you out, though, the store lets you pay off this $140 in installments of $35 per week. what is the apr of this loan? what is the ear?

answer
Answers: 2

Other questions on the subject: Business

image
Business, 21.06.2019 19:30, jluckie080117
In business, what would be the input, conversion and output of operating a summer band camp
Answers: 1
image
Business, 22.06.2019 10:30, volleyballfun24
Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u. s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u. s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u. s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u. s. gaap balances to ifrs.
Answers: 1
image
Business, 22.06.2019 13:30, bobbycisar1205
Hundreds of a bank's customers have called the customer service call center to complain that they are receiving text messages on their phone telling them to access a website and enter personal information to resolve an issue with their account. what action should the bank take?
Answers: 2
image
Business, 22.06.2019 14:00, lindjyzeph
The following costs were incurred in may: direct materials $ 44,800 direct labor $ 29,000 manufacturing overhead $ 29,300 selling expenses $ 26,800 administrative expenses $ 37,100 conversion costs during the month totaled:
Answers: 2
Do you know the correct answer?
Acheck-cashing store is in the business of making personal loans to walk-up customers. the store mak...

Questions in other subjects:

Konu
Mathematics, 05.05.2020 09:15