Business, 06.07.2019 06:30 bbtor

When a lender charges interest, it is known as: a. annual percentage rate (apr) b. surplus c. deficit d. drawbacks

Answers: 1

Show answers

Answers

When a lender charges interest, it is known as: A. Annual Percentage Rate (APR) The annual percentage rate is the rate of interest lenders such as credit card companies use when charging interest on borrowed funds from their users. The annual percentage rate is divided by the 12 months in the year and then charged each month on the finances that are not paid off.

Answer from: niicoleassssssf

Option A is correct.

When a lender charges interest it is known as an annual percentage rate (APR).

Further explanation:

Annual percentage rate (APR):

The annual percentage rate (APR) shows the interest rate for the annual year.The annual percentage rate is significant as it gives the idea or the estimation of the amount which is to be paid for the loan amount.

Justification for the correct and incorrect

Annual Percentage Rate (APR): This option is correct.

The annual percentage rate (APR) shows the annual percentage rate of interest. It tells the amount of interest charged on the loan amount.

Surplus: This option is incorrect.

Surplus is basically the excess amount of the production.

Deficit: This option is incorrect.

Deficit refers to the very low or less amount.

Drawbacks: This option is incorrect.

Drawbacks are the problems or disadvantages.

Thus, when a lender charges interest it is known as an annual percentage rate (APR).

Learn more:

1. Common credit card fee

2. Charging fee in case of credit card

3. Consequences of non-payment of monthly credit card payment

Answer details:

Grade: High School

Subject: Business studies

Chapter: Money and banking

Keywords: When a lender charges interest, it is known as, Annual Percentage Rate (APR), Surplus, Deficit, Drawbacks, low, less, amount, excess, production, interest charged, loan amount, annual year, annual, percentage, shows, problems, disadvantages, tells the amount, credit card payment, loan, money.

Answer from: Quest

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues, with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

Answer from: Quest

Yes it's true they get dissatisfied

Another question on Business

Business, 22.06.2019 20:20

As you have noticed, the demand for flip phones has drastically reduced, and there are only a few consumer electronics companies selling them at extremely low prices. also, the current buyers of flip phones are mainly categorized under laggards. which of the following stages of the industry life cycle is the flip phone industry in currently? a. growth stage b. maturity stage c. decline stage d. commercialization stage

Answers: 2

Answer

Business, 22.06.2019 23:00

Customers arrive at rich dunn's styling shop at a rate of 3 per hour, distributed in a poisson fashion. rich can perform an average of 5 haircuts per hour, according to a negative exponential distribution.a) the average number of customers waiting for haircuts= customersb) the average number of customers in the shop= customersc) the average time a customer waits until it is his or her turn= minutesd) the average time a customer spends in the shop= minutese) the percentage of time that rich is busy= percent

Answers: 3

Answer

Business, 23.06.2019 01:10

Hillside issues $4,000,000 of 6%, 15-year bonds dated january 1, 2016, that pay interest semiannually on june 30 and december 31. the bonds are issued at a price of $4,895,980. required: 1. prepare the january 1, 2016, journal entry to record the bonds’ issuance

Answers: 3

Answer

Business, 23.06.2019 02:40

Acompany that uses the periodic inventory system provided the following information: 1. beginning inventory $ 5 comma 0002. purchases $ 150 comma 0003. purchase discounts $ 2 comma 1004. purchase returns and allowances $ 1 comma 000at the end of the period, the physical count of inventory reveals that $ 16 comma 000 worth of inventory is on hand. what is the amount of cost of goods sold?

Answers: 2

Answer

You know the right answer?

When a lender charges interest, it is known as: a. annual percentage rate (apr) b. surplus c. defic...

Questions