Jadethepartyanimal
19.05.2021 •
Business
A credit card had an Apr of 12.87% all of last year and compounded interest daily. What was the credit card's effective interest rate last year?
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Ответ:
13.73%
Explanation:
Effective annual rate = (1 + APR / m ) ^m - 1
M = number of compounding = 365
Ответ:
It will take 6 years and 183 days to cover for the investment.
Explanation:
Giving the following information:
Cash flow:
Cf1 trough 3= 100
Cf4 trough 8= 75
Initial investment= 475
The payback period is the time required to recover the initial investment.
Year 1= 100 - 475= -375
Year 2= 100 - 375= -275
Year 3= 100 - 275= -175
Year 4= 75 - 175= -100
Year 5= 75 - 100= -25
Year 6= 75 - 25= 50
To be more accurate:
(25/50)*365= 183
It will take 6 years and 183 days to cover for the investment.