EAR What is the effective annual rate (EAR) of a mortgage that is advertised at 12% (APR) over the next twenty years and paid with monthly payments? What is the effective annual rate (EAR) of the mortgage at 12% APR with monthly payments? % (Round to two decimal places.)

Q: do you have the answer in a different format using equations

A: The present value is the present worth of the amount that will be paid or received in the future.

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A: Perpetuity: It is a stream of cash flow that is presumed to continue for an indefinite period.

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A: Trial balance is a worksheet/list of ledger accounts which are sorted into debit and credit…

Q: is the target of data flow. Select one: O a. Destination O b. Pass O c. Source O d. Stores

A: Which is the target of data flow as follows:-

Q: Define roadshow

A: Roadshow: Roadshow is a sequence of conferences across diverse towns in which topmost managers from…

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A: Salam and Parallel Salam are modes of Islamic financing which are useful for traders and small…

Q: Illustrates how you may obtain the true IRR by using the Goal Seek function?

A: IRR refers to the rate of return at which the net present value of a project is zero. This is the…

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A: Information Provided: Withdraw amount = $10,000 Interest rate = 6% Years for withdraw $10,000 = 5…

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A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

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A: The CONSOLIDATE function in Excel is used to combine and aggregate data from multiple worksheets or…

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A:

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A:

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A: ER diagram stands for "Entity Relationship", which can be defined as a type of flowchart that is a…

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A: Two way data states a way or the method of displaying the relative frequencies for the categorical…

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A: SOLUTION:- Risk management is the main stimulus for forward contracts. Forward contract is a…

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Q: a. Definition of Sensitivity Analysis b. Discuss the Purpose and Application in Linear Programming.

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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.