Suppose Community Bank offers to lend you $10,000 for one year at a nominal annual rate of 18.75%, but you must make interest payments atthe end of each quarter and then pay off the $10,000 principal amount at the end of the year. What is the effective annual rate on the loan?a. 19.63%O b. 20.45%c. 18.75%Od. 19.95%Oe. 20.11%Office 3

Step 1: Step 2: Step 3: Step 4:

Answered: Suppose Community Bank offers to lend…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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You deposit $700 in your savings account for a year. By the end of the year, the value of your deposit increases to $730. What interest rate is your bank paying on the savings account? Choose one: O A. 0.04% B. 0.23% C. -4.11% D. 4.29%
You deposited a $1,000 in your account in a bank that gives a daily interest of i where interest is paid monthly. Assuming simple interest, calculate the interest rate (1) that will result in $1,006 in your bank account after a month. Select one: a. 0.060 % b. 0.040 % c. 0.020 % o d. 0.016 %
A $1,000 bond pays an interest of $50 each year for 20 years. The bond will mature at the end of 20 years and return the original $1,000. If there is 2% annual inflation during this period, what rate of return does the investor receive? O 4.94% O 2.94% O 1.949% O 5.94%
1)How many years will it take to pay off a$525debt, with monthly payments of$15at the end of each month if the interest rate is18%, compounded monthly? i)3.1667 ii)6.1667 iii)5.1667 iv) 4.1667 2)Company A has fixed expenses of$15,000per year and each unit of product has a$0.20product at a$0.50variable cost. At what number of units of annual production will Company A have the same overall cost as Company B? i) 14,286 units ii) 66,666 units iii) 33,333 units iv) 28,572 units 3)The Profit From the monthly sale of x tons of a product, in thousands of dollars, is given by the function:P(x)=−0.05x²+1.6x−3. The maximum possible profit is i)$11,800 ii)$9,800 iii)$12,800 iv)$10,800 i need above 3 three i will 10 upvotes plz urgent no use excel only typing.
Assuming the maximum monthly CP retirement benefit payable at age 65 is approximately $1,150 and it of the following individuals have applied to receive a CP retirement benefit beginning this month, whose application will be DECLINED? O a) Nathalie is 61 years old and earns an annual salary of $38,000 from her full-time job. Nathalie wil resign from her position effective the end of this month O b) Justin is 64 years old and works on a part-time basis earning an annual salary of $12,000. Justin intends to continue his part-time employment for the foreseeable future c) Charlotte is 60 years old. On the ist of this month, she retired from the company for whom she worked full-time for 35 years Charlotte was earning an annual salary of $57,000. d) Nguyen is 58 years old. On the 15th of last month, he resigned from his full-time job from which he earned a salary of $85,000. However, his former company desperately needs Nguyen's skills so today. he accepted an offer from them to…

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