A man needed money for college. He borrowed $6,000 at 12% simple interest per year. If he paid $360 interest, what was the duration of the loan? The duration of the loan is year. (Round to two decimal places as needed.) RTTI

Q: How is ARR calculated?

A: ARR: Accounting Rate of Return (ARR) is the rate of return earned on the investment made in a…

Q: how does it became an over applied OH? how will you know that it is under or over applied OH?

A: Lets understand the basics. When applied overhead is more than actual overhead then it is known as…

Q: What are ADRs?

A: Answer: An American depositary receipt (ADR) is a negotiable asset that denotes a non-US company…

Q: What is Gordon model?

A: Intrinsic value of a stock is based on the internal information of an organization. That is, market…

Q: What is Glass-Steagall Act?

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Q: Definition of Marco

A: Macroeconomics is the study of how the economy behaves in broad outline. It is largely concerned…

Q: A figured out

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

Q: What is BATNA?

A:

Q: What is Miller model?

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Q: Why was EDI devised?

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Q: How do I add an excersise to my qbw?

A: Exercise can add to QBW by open up the exercise that we wish to add to our workout by going to…

Q: lanagemenl A ler

A: The right answer is option a. cost centre

Q: Define Volcker rule

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Q: Question 2. payments. If the interested rate is 10% compounded monthly, find the monthly payment re-…

A: Monthly payment is refer as the regualr amount of fund or payments at monthly time interval. It is…

Q: What is CAPM? How about APT?

A: CAPM and APT are two common models for pricing used in finance. These are explained below.

Q: What is the meaning of incoterms

A: International chamber of commerce is the supervisor of international trading, and try to provide…

Q: Mamuțelerăit puiul de om

A: Mowgli, the human cub found by the wolves in 'The Jungle Book', is described as a very small and…

Q: Define unicorn

A: The term Unicorn in finance was popularized by Aileen Lee, a popular venture capitalist &…

Q: Define agent

A: Introduction: An agent is a party that has oral or written authority to perform for another…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.