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What is the interest rate on your credit card if after 10 years you owe $40 for a pizza that had a price of $10? The interest rate is _______.
A. a monthly rate of 15/12 percent
B. 15 percent per year compounded monthly
C. a monthly rate of 15/365 percent compounded daily
D. 15 percent per year compounded annually Submit
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- How much is accumulated over two years in each of the following savings plans? a. $60 at the end of each month for 24 months at 24 percent compounded monthly b. $50 at the end of the first month, $51 at the end of the second month, and so forth, increasing by $1 per month, at 24 percent compounded monthly Click the icon to view the table of compound interest factors for discrete compounding periods when i = 2%. a. There would be $ (Round to the nearest b. There would be $ (Round to the nearest accumulated in the account after two years. cent as needed.) accumulated in the account after two years. cent as needed.)8. An effective rate of interest, which is 12.75%, is equivalent to what percent if compounded continuously.Emily recently graduated with a B.A. in economics and was offered a job with a small but growing company for $40,000 per year. About the same time, Emily inherited $62,000. She decided to pass up the job and use her inheritance to purchase a bubble tea shop rather than put the money into a bond fund (as her uncle suggested), which would have paid 6 percent per year interest. Emily works full-time at her new business, and at the end of the year she had revenues of $83,000 and total explicit costs of $41,000. a. What was Emily's accounting profit or loss for the year? Accounting profit $ 42,000 b. What was her economic profit or loss for the year? Economic Loss $ 7,600
