Suppose you borrow $1,000 for 5 years at an add-on interest rate of 6%, what is the approximate APR? Round your answer to one decimal place. Include the correct unit.

Answers

Answer 1

The approximate APR generated when you borrow $1,000 for 5 years at an add-on interest rate of 6%, = $300

Calculation of Annual percentage rate

Annual percentage rate is defined as the yearly interest generated by a sum that's charged to borrowers.

The formula for APR = p×t×r/100

The principal amount deposited (p)= $1000

Time (t) = 5 years

At the rate (r) = 6%

Therefore APR=

[tex] \frac{p \times t \times r}{100} [/tex]

[tex] \frac{1000 \times 5 \times 6}{100} [/tex]

[tex] \frac{30000}{100} [/tex]

APR = $300

Therefore, the approximate APR = $300

Learn more about APR here:

https://brainly.com/question/24703884


Related Questions

Flora's Flower Shop is gearing up for Valentine's Day, which is typically their busiest time of the year. Flora was able to secure 9,000 red roses for the holiday this year. Flora sells red roses for $8 per stem, and bouquets of 12 red roses for $75. The cost per stem for Flora is $3. Typically half of all flowers are sold as individual stems and half as bouquets, however on Valentine's Day the majority of flowers are sold as part of bouquets. Last year Flora made $35,000 over the Valentine's Day holiday, and hopes to make the same profit this year. What is the maximum proportion of flower sales that can come from bouquets in order for Flora to earn a profit of $35,000. 42% O 50% 63% 81%​

Answers

The maximum proportion of flower sales that can come from bouquets in order for Flora to earn a profit of $35,000 is A. 42%.

What is proportion?

The proportion shows the ratios of two or more variables.

While the maximum proportion show the highest ratio or percentage of a variable required to equate an expression.

Data and Calculations:

Number of red roses procured for sale = 9,000

Selling price per stem = $8

Selling price per bouquet (12 stems) = $75

Cost per stem = $3

Last year's Valentine Day profit = $35,000

                                                      Stem       Boutique

Selling price                                    $8             $75

Cost per stem                                   3               36 ($3 x 12)

Contribution margin per unit         $5            $39 ($75 - $36)

Contribution margin per stem       $5            $3.25 ($39/12)

Weighted contribution margin  $22,500  $14,625 ($3.25 x 4,500)

Proportion                                                       42% ($14,625/$35,000 x 100)

Thus, the maximum proportion of flower sales that can come from bouquets in order for Flora to earn a profit of $35,000 is A. 42%.

Learn more about proportions and ratios at https://brainly.com/question/12024093

Please help I need this done by 3 I don't wanna fail​

Answers

Answer:

(x,y)= (x+4, y+6)

Step-by-step explanation:

The translation is right 4 up 6

Answer:sorry ave trobule with this but there is a app about it it is

Step-by-step explanation:

Scientific Notation Calculator rapid tables it helps alot

Find the value of x and y. If necessary, round your answer to the nearest tenth. *

Answers

Answer:

Step-by-step explanation:

"y" is geometric mean ⇒ y² = 5 × 12

y = √60 ≈ 7.7

x² = 5² + ( √60 )²

x = √85 ≈ 9.2

Solve the following proportion for x

Answers

B.


Best answer to give

Answer:

x=500

Step-by-step explanation:

[tex] \frac{2}{3} = \frac{x}{750} \\ 3 \times x = 2 \times 750 \\ 3x = 1500\\ \frac{3x}{3} = \frac{1500}{3 } \\ x = 500 [/tex]

PLEASE HELP FIND THE AREA!
its pretty easy

Answers

Answer:

114 square meters

Step-by-step explanation:

I hope this helps! Have a lovely day!! :)

Write an addition, a multiplication, and a division statement with the
same answer

Answers

Answer:

5 x 5 = 25

20 + 5 = 25

50 ÷ 2 = 25

Step-by-step explanation:

the lest than and greater than is similar off math ​

Answers

Answer:

?

Step-by-step explanation:

uhhh less than is x < y greater than is x > y

can you please provide more info!

Distributive property of 9 times 28

Answers

9x20 +9x8

OR

9x(20+8)

1. A point is a position, true or false​

Answers

true true true true true true true

im confused on this, anyone have an idea what they mean?

Answers

Answer:

This looks like the perimeter formula for a rectangle :)

Step-by-step explanation:

I could be wrong but i hope this helps

how to solve this w2-64= by facturing​

Answers

Answer: (x+8)(x-8)

Step-by-step explanation:

hope this helped :)

Please help I'll mark this as brainliest ​

Answers

Answer:

13/50

Step-by-step explanation:

26% of 100 is 26/100 as a fraction.

These can both be divided by 2.

Once you divide both by two you end up with 13/50.

Answer:

26 green marbles

Step-by-step explanation:

There are 100 marbles in the jar.

100 marbles are 100%

26% of these marbles are green.

Just as there are 100 marbles, we need to find how many marbles are green.

Let us do it like that: let a be the actual number of green marbles.

Marbles           Percent

100                    100%

a                         26%

Let's find the ratio between 100% and 26% by doing 100/26 = 3.846153

We need to multiply 26 by 3.846153 in order to get to 100, right?

So same, I'll need to multiply a times 3.846153 in order to get 100.

3.846153 a = 100

divide both sides by 3.846153

a = 26 marbles

Therefore there are 26 green marbles.

Tell me if it helps you.

Photo question to ask

Answers

Answer:

$205,625

Step-by-step explanation:

Total is x, so

16% * x = 32,900

x = 32,900/0.16 = 205,625

100 POINTS
The graph of f ′ (x), the derivative of f(x), is continuous for all x and consists of five line segments as shown below. Given f (0) = 6, find the absolute maximum value of f (x) over the interval [0, 5].

graph of line segments increasing from x equals negative 4 to x equals negative 3, decreasing from x equals negative 3 to x equals 0, increasing from x equals 0 to x equals 3, constant from x equals 2 to x equals 4 and decreases from x equals 4 to x equals 5. x intercepts at x equals negative 4, x equals 0, x equals 5

2
8
11
13

Answers

The graph of f'(x) is given, so if you find the area under the graph, that will be the value of f(x). Calculate the area of the shape under the graph from x values 0 to 4. This shape should look like a trapezoid. The area you find is actually the change in f(x) from 0 to 4. You will need to add that area to the initial value the problem gave you: f(0)=7.

Area of a trapezoid = h(b2+b2)/2
Height of the trapezoid = 2
Base 1= 2
Base 2 = 4
Area of trapezoid from [0,4] = 6

Initial value: f(0)=7

Absolute Maximum F(x): 6 + 7 = 13

Write 7/10 as a sum of fractions two different
ways.

Answers

Answer:

0.70, 70/100 and 14/20

Step-by-step explanation:

hope this helps

The attendance for a basketball team declined at a rate of 5% per game throughout a losing
season. 23,500 people attended the first game. How many people attended the 8th game?
Equation:
Answer:

Answers

Answer:

y=23,500

Step-by-step explanation:

General form for an exponential equation

                            y = ab^{x - h} + k y=ab

                             or

                             y = ab^x y=ab  

Exponential growth and decay, when the quantity increases by a fixed percentage at regular intervals.

                     Exponential growth  y = a(1 + r)^x y=a(1+r)

               \because b = (1 + r) ∵b=(1+r)

   

                     Exponential decay  y = a(1 - r)^x y=a(1−r)

x

                 \because b = (1 - r) ∵b=(1−r)

                       Where, a - initial value

                                   r - decay or growth rate

                                   x - Number of time intervals that have passed

Step 2: Set up an exponential equation from the given in formation

             Given that:

             Declined(Decay) rate r = 5% = 0.05

            Players from the first game a = 23,500

             Exponential decay  y = a(1 - r)^x y=a(1−r)

x

       

                                           y=23,500(1-0.05)^xy=23,500(1−0.05)

x

                                           y=23,500(0.95)^xy=23,500(0.95)

x

                                           

Step 3: Build a table of values by evaluating the function at different x-values.

                                       y=23,500(0.95)^xy=23,500(0.95)

                                 

                 If x = 0 then  y = 23,500(0.95)^x y=23,500(0.95)

                                      y = 23,500(0.95)^0 y=23,500(0.95)

                                      y = 23,500 * 1 y=23,500∗1

                                       y=23,500

If x = 6 and y= 4, evaluate the following expression:
3x^2 + 3xy + y^2

Answers

Answer:

plz refer the attachment

Answer:

3*6^2 + 3*6*4 + 4^2

18^2 + 72 + 4^2

324 + 72 + 16

412

Answer: 412

Jodha wants to tip the pizza delivery person 20%. If the cost of the pizzas is $15.99, what would be a reasonable amount to tip?

Answers

Answer:

$3.20

Step-by-step explanation:

20%-> .20

15.99*.20

Answer:

$3.20

Step-by-step explanation:

divide 15.99 by 100

[tex]\frac{15.99}{100}[/tex]=0.1599

you now have 1%of the cost

multiply by 20 to get 20%

0.1599*20=3.198

round to 2 decimal places to get the amount he will tip

3.20

can I get help with this equation?(2√5-√6)(4√5-3√6)​

Answers

Answer:

=58 - 10 (lil check thing) 30

Step-by-step explanation:

It takes 6 painters 4 half and hour to paint these classroom.

Is this direct or indirect proportion?
Give a reason for your answer

Answers

Answer:

Direct proportion

Step-by-step explanation:

In direct proportion, if one quantity is increased or decreased then the other quantity increases or decreases, respectively

Larissa had 25 feet of ribbon. She equally divided
all the ribbon to make 8 bows for gift boxes. How
many feet of ribbon were used for each bow?

Answers

Answer:

3 feet of ribbon

Step-by-step explanation:

Simply divide 25 by 8. Then you get 3 feet with a remainder of 1.

A grocery store bought yogurt for $2.20 per container and stored it in two refrigerators. During the night, one refrigerator malfunctioned and ruined 13 containers. If the remaining yogurt is sold for $3.94 per container, how many containers did the store buy if they made a profit of $105.38?

Answers

Answer:

96

Step-by-step explanation:

X be the total containers bought

Sales - cost = profit

4.08(X - 14) - 2.6X = 84.96

4.08X - 2.6X - 57.12 = 84.96

1.48X = 142.08

X = 96

a man purchased a used car for $1000. He decided to sell the car for 20% above his purchase price. He could not sell the car so he reduced his asking price by 20%. If he sells the car at the reduced price, will he have a profit or a loss or will he break even?​

Answers

Answer:

ok so they purchased price of the car is $1000 and the asking price will be 20% of $1000 so $1000 is a 100% so to get 20% of $1000 it will be 100% + 20% to get 120 percent so the asking price is 120 per cent of $1000 so 120 percent of $1000 is equals to 1200 dollars then you are told that he could not sell it by that price so he reduced it by 20% so this $1200 is 100% so he reduced it by 20% so it will be 100% - 20% to get 80% so this person sold his car at 80% so we will get 80% of $1200 and we will get $960 so he made a loss of $40

Purchase price = 1000
20% above 1000 = 200, 1000 + 200 = 1200
20% below 1200 = 240, 1200 - 240 = 960

1000 - 960 = $40 loss

A window has an actual height of 4.5 feet. If a blueprint has a scale of 3 inches = 2 feet, find the height of the window in the blueprint. Select one: 9 inches O 7.5 inches O 9.5 inches O 6.75 inches​

Answers

2 feet: 3 inches

1 feet: 3/2 inches

4*5 feet: 3x4*5/2

=6.75 Inchea

Which formula gives the trade discount when the list price and single discount rate are​ given?
Question content area bottom
Part 1
A.
list price times single discount rate
B.
net price times single discount rate
C.
base equals portion times rate
D.
trade discount times single discount rate

Answers

Answer:

I believe it's

Step-by-step explanation:

A

however I could be wrong

What is the answer ?
x/y+17
If is x=12
and y=1/2

Answers

Answer:

jhhdh.duuemmeyyeymruur*

12/ 1/2 +17 = 24 +17= 41

What are 2 equivalent ratios for 7:4​

Answers

Answer:

14:8 and 21:12

Step-by-step explanation:

Equivalent fractions are fractions that look different but hold the same value. In this case, 7:4 = 14:8 = 21:12

Answer:

14:8, 28:16

Step-by-step explanation:

This could be anything. Ratios are like fractions; as long as you make changes to both sides, it will equal the same thing. So for the two examples I put, I simply multiplied both sides by 2 for the first one, and 4 for the second one.

But, you could multiply it by whatever you want, even negative numbers and fractions. However, I wouldn't try to complicate it, if the question didn't ask me to. Just keep to the easiest equivalents to make your life easier.

Hope this helps :))

I need help with showing my work on converting 3 7/8​

Answers

Hi :)

The answer is 31/8

3 is a whole number, right?

So we do:

8/8 + 8/8 + 8/8 + 7/8

We have 8/8 three times cuz we have 3 as the *whole* number

= 8 + 8 + 8 + 7= 31
Add the denominator = 31/8

Hope this helps :)

When a country imports more than its exports,it has a(n)

Answers

It has a trade deficit.

When a country imports more than how much it gives, it has a trade deficit.

Which graph represents the equation y = 1/3x +2

Answers

Answer:

No graph attached, but it would look like;

The y intercept (the line which meets the y axis) would be at positive 2,

it would then rise one and go over 3 to the right because they are both positive.

Whichever one has a point at (0,2) and at (3,3)
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