Due to compounding frequency, the actual interest rate or APY you pay is higher than the advertised interest rate or APR
Indicate whether this statement is true or false.
Answer: TRUE
Business
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The uses of retail and wholesale audit data include all of the following except ________
A) identifying shelf space allocation and inventory problems B) establishing profiles of specific user groups C) developing sales potentials and forecasts D) analyzing distribution problems
Business
The face value on a loan is $8,000, the interest is 10%, and the time is 5 months based on a 360-day year. The bank discounted the note at 12% two months before the maturity of the loan. What is the bank discount?
A) $686.67 B) $333.33 C) $267.14 D) $166.67
Business