What effective interest rate is being charged on instalment

Assignment Help Mathematics

Reference no: EM131016912

The Lifestyle Fitness and Exercise Centre charges annual membership fees of $600 (in advance) or six "easy" payments of $120 at the beginning of every two months. What effective interest rate is being charged on the instalment plan?

Reference no: EM131016912

Questions Cloud

Express the admittance in both rectangular and polar forms : Three impedances are connected in parallel, Z1= 2 + j2, Z2= 1 + j5 and Z3= j6. Find the equivalent admittance Y. Express the admittance in both rectangular and polar forms.

Maximum one-month loss : Using the value-at-risk (VAR) method based on a 95% confidence level, what is the maximum one-month loss in dollars if the expected percentage change of the euro during next month is A?€2%? Assume that the current spot rate of the euro (before co..

To what extent do our moral ideas reflect the society around : How do you explain the fact that in the business world basically good people sometimes act immorally?

What effective rate of return has the plan earned : An RRSP is now worth $223,000 after contributions of $2500 at the beginning of every six months for 16 years. What effective rate of return has the plan earned?

What effective interest rate is being charged on instalment : The Lifestyle Fitness and Exercise Centre charges annual membership fees of $600 or six "easy" payments of $120 at the beginning of every two months. What effective interest rate is being charged on the instalment plan?

Prepare a master budget for freshpak corporation : Prepare a master budget for FreshPak Corporation for the next year. Assume an income tax rate of 40 percent. Include the following schedules.

How much work is done in hauling the object from the ground : A crane is hauling up an object weighing 20 Newton's. The top of the crane is 10 meters above the ground. The cable weighs 2 Newton's/meter. How much work is done in hauling the object from the ground up to a height of 10 meters

Difference between a zero slope and undefined slope : Explain the difference between a zero slope and undefined slope - Write the solution set using interval notation and graph the solution set on a number line

Compare the option of buying and leasing to help the company : The tax rate of Mishthosi is 30% and its cost of capital is 10%. Compare the option of buying and leasing to help the company decide which alternative they should choose.

User Account

All Pages