Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 03, 2024

7. Nathan owed $925 to his friend a year ago and owed $600 to another friend 6 months ago. If he clears his debt today,

7. Nathan owed $925 to his friend a year ago and owed $600 to another friend 6 months ago. If he clears his debt today, what total payment is he expected to make, if the simple interest of 20% is applicable?

A) $1110

B) $1770

C) $1800

D) $1525

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Everything Guide To Day Trading

Authors: David Borman

1st Edition

1440506213, 978-1440506215

More Books

Students also viewed these Finance questions

Question

★★★★★

In a present worth analysis of certain equipment, one alternative has a net present worth of + 420, based on a 6-year analysis period that equals the useful life of the alternative. A 10% interest...

Answered: 1 week ago

Question

★★★★★

An error that overstates the ending inventory will also cause net income for the period to be overstated. Select one: True False

Answered: 1 week ago

Question

★★★★★

1. 20. MIRR [LO 9.6] Suppose the company in the previous problem uses a discount rate of 11 per cent and a reinvestment rate of 8 per cent on all of its projects. Calculate the MIRR of the project...

Answered: 1 week ago

Question

★★★★★

Reporting Inventory at Lower of Cost or Market Parson Company was formed on January 1, 2012, and is preparing the annual financial statements dated December 31, 2012. Ending inventory information...

Answered: 1 week ago

Question

★★★★★

7. Nathan owed $925 to his friend a year ago and owed $600 to another friend 6 months ago. If he clears his debt today, what total payment is he expected to make, if the simple interest of 20% is...

Answered: 1 week ago

Question

★★★★★

write java program..algotitem and solve problems Exercise#4: Zineb would like to add a window on the wall in her room. Since you are taking CSBPI 19, her father asked you to figure out the largest...

Answered: 1 week ago

Question

★★★★★

A skier on a slope inclined at 4.7o to the horizontal pushes on ski poles and starts down the slope. The initial speed is 2.7 m/s. The coefficient of kinetic friction between skis and snow is 0.11....

Answered: 1 week ago

Question

★★★★★

Possible Output Combination 64 52 Papayase 38 20 20 40 60 80 100 120 140 160 Oranges b. Suppose the Fruit Farm is currently producing at point F. What is the opportunity cost of producing an...

Answered: 1 week ago

Question

★★★★★

Exercise 3-1 (Algo) Determining assets and expenses for accrual and cash accounting LO C1 On September 1, Year 1, a company paid an $19,800 premium on a 36-month Insurance policy for coverage...

Answered: 1 week ago

Question

★★★★★

On January 2, 2015, JT Partnership begins its operations with the following investments: Joe Tom P80,000 40,000 According to the partnership agreement, all profits will be distributed as follows: Joe...

Answered: 1 week ago

Question

★★★★★

1. Briefly explain what a product market is. Then, describe the role that product markets play in the flow of goods and services in an economy. In forming your response, be sure to describe the...

Answered: 1 week ago

Previous Question Next Question