A $3800 loan at 10 % was advanced on June 17, 2011. How much interest was

Question:

A $3800 loan at 10 ¾ % was advanced on June 17, 2011. How much interest was due when the loan was repaid on October 1, 2011?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 07:09 AM

See More Questions

A $5000 demand loan was advanced on June 3. Fixed monthly payments of $1000 were required on the first day of each month beginning July 1. Prepare the full repayment schedule for the loan. Assume...
The interest rate on a $3000 loan advanced on March 1 was 10.2%. What must the first payment on April 13 be in order that two subsequent payments of $1100 on May 27 and $1100 on July 13 settle the...
Assume that on October 1, 2010, Big Company borrowed $10,000 from the local bank at 6 percent interest. The note is due on October 1, 2011. How much interest does Big pay in 2010? How much interest...
Ivanhoe Company was formed on July 1, 2018 It was authorized to issue 285,500 shares of $10 par value common stock and 95,400 shares of 8 $25 par value, cumulative and nonparticipating preferred...
Industry Franchise fee revenue is recognized (with an appropriate provision for estimated uncollectible amounts) when all material services relating to the sale have been substantially performed by...
Figure 15.48 shows an infinite slope with H = 8.22 m, and the groundwater table coinciding with the ground surface. If there is seepage through the soil, determine the factor of safety against...
How does a socio-technical approach to managing projects improve the likelihood of project success? AppendixLO1
Montreal Scholastic Supply Company uses a standard-costing system. The firm estimates that it will operate its manufacturing facilities at 800,000 machine hours for the year. The estimate for total...
The real risk-free rate is 2.0% and inflation is expected to be 3.75% for the next 2 years. A 2-year Treasury security yields 6.15%. What is the maturity risk premium for the 2-year security? Round...
(i) Outline a 5TM that does decimal addition for three numbers simultaneously, the numbers being on tracks 2, 3, and 4. The sum should be left on track 5, and track 1 is reserved for carries. (ii)...
What was the term of a $4850 loan at 4.5% if the interest due at the end was $145.50?
$12,800 was invested in a 237-day term deposit earning 3 %. What was its maturity value?
1. Our Topic: a. We want to examine the relationship between professors' personality and the frequency in which they use social media sites. Recall from Practice 14.1 that because personality is a...
MATA 31 Calculus 1 winter 2024 Problem Set 2 Feb 11 Feb 18 on Crowdmark Each question is 25 points. 1. (25) (a) (15) Given that lim 3 2x + 3 for = 0.1 = 3, find the largest & that works (b) (10) Find...
A retailer has product demand 9600 units a year. The carrying cost of one unit of the product is $3.50 per year. Ordering costs are $28 per order. a. What is the Economic Order Quantity (EOQ)? (2...
How do I key in this into journal entries Crest Pte Ltd Trial Balance Cash Accounts receivable, Augusta Office Equipment Opening Bal as at 1 Mar 2021 Debit (5) Credit ($) 15,000 5,000 13,000...
If an atomic layer is approximately 0.1nm thick, how fast are the protein synthesis machines working in atomiclayers/satomiclayers/s?
Consider the 4 sets of data shown below for v(t) the velocity of an object in freefall with the corresponding linear curve fits. The slope of the best fit line gives the acceleration, and for...
What are a firms two principal sources of financing? Of what do these sources consist?
Walker, Inc., is an all-equity firm. The cost of the company's equity is currently 11.4 percent and the risk-free.rate is 3.3 percent. The company is currently considering a project that will cost...
Equity Method} OBJECTIVE 13 On January 1, 2018, Core Corporation acquired $30 \%$ of the 10,000 outstanding common shares of Prima Foods Inc. for $\$ 2,000,000$, which equals the book value of...
The following fractions and mixed numbers have terminating decimal equivalent forms. Express their decimal and percent equivalent forms to five-figure accuracy. 37.5 50
Evaluate each of the following. (8 4) 2 4 2 3
Evaluate each of the following. 5 + (3 2 3) 2 (9 + 3)
Discuss why it is important for company managers to understand and use social capital knowledge to help build social ties among their skilled knowledge workers so they can build employee loyalty...
Kate lives in a house close to a local university, and she traditionally has rented a garage apartment in the back of her property to students for $750 per month. Kate wants to transfer the title to...
Pottery Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of capacity, and variable manufacturing overhead is charged to production at...

A $3800 loan at 10 % was advanced on June 17, 2011. How much interest was

Question:

Step by Step Answer:

Number of days Octobe...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions