A department store has offered you a credit card that charges interest at 1.65% per month compounded monthly. (a) (a) What is the nominal interest (annual percentage) rate for this credit card? (b) (b) What is the effective annual interest rate?

a) r = 1.65% *12 = 19.8%

b)

And i= 0.0165 and replacing we got:

And if we convert this into % we got: 21.699%

Explanation:

Nominal interest rate represent the interest rate before taking account the inflation

The effective annual interest rate represent the real return from an investment

Part a

For this case the nominal interest is given by:

r = 1.65% *12 = 19.8%

Part b

We can use this formula:

And i= 0.0165 and replacing we got:

And if we convert this into % we got: 21.699%

hello the answer is d

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know