The Annual percentage rate is the advertised or stated interest rate of an investment or loan. It is the rate used to calculate the compound interest.
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Q. 2As sales manager for Magnum Enterprises, use Table 21-1 from the text to find: a. which territory had the greatest total percentage of sales for February? b. what is the percentage of sales? (Round to the nearest tenth of a percent)
Q. 3As the sales manager of Pick N' Pay, you find the expense accounts of your five salespersons for the week to be: 109.62, 122.18, 93.40, 142.75 and 99.20. What is the mean expense account for the week?
Q. 4The Annual Percentage Yield (APY) is the true rate of return of an investment. It is calculated by adding in the hidden costs not advertised by the lending institution. The more compounding periods per hear, the higher the APY.
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Q. 5Compute the arithmetic mean of the following numbers: (Round to two decimal places) 912.55, 549.01, 906.88, 456.31, 231.74, 782.45, 335.98, 154.46
Q. 6If a problem states that interest is compounded quarterly, that means there are 6 compounding periods per year.
Indicate whether the statement is true or false
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