Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 21, 2024

a customer wants to borrow 45,000 for one year from ABC Bank. The bank offers a discount loan with an interest rate of 12 percent.

a customer wants to borrow 45,000 for one year from ABC Bank. The bank offers a discount loan with an interest rate of 12 percent. How much of the loan will be available to the customer?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Accounting

Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,

Volume 1, 2nd canadian Edition

176509739, 978-0176509736, 978-0176509743

Students also viewed these Finance questions

Question

Be prepared to discuss your career plans.

Answered: 1 week ago

Question

★★★★★

For each of the following independent situations, fill in the blanks to indicate the effect of the error on each of the various financial statement items. Indicate an understatement (U), an...

Answered: 1 week ago

Question

★★★★★

Sabotage Computer Systems (SCS) preferred stock pays a 2.8% dividend (annual) on par value of $35.00. The market value SCS Preferred is currently $23.65. You estimate the required rate of return to...

Answered: 1 week ago

Question

★★★★★

Nonparametric is to parametric as _____ is to _____. Group of answer choices t test; z test z test; t test 2 test; t test t test; 2 test

Answered: 1 week ago

Question

★★★★★

Now, suppose Grant had a stopwatch and starts the stopwatch when Alan starts running. Grant notices that Alan reaches his max speed when the stopwatch reads 8 seconds, and Alan is at the 60 yard-line...

Answered: 1 week ago

Question

★★★★★

An electric motor raises the container of a liquid a vertical distance of 7.5 m in only 6.0 s. During this time its power input is 9.5 kW. a) How much work does the motor do on the liquid? b) How...

Answered: 1 week ago

Question

★★★★★

As your final task as a sales and marketing intern, you have been asked to evaluate a further promotional plan for 1 month-this time to boost occupancy rates at the Crystal Hotel. This will include a...

Answered: 1 week ago

Question

★★★★★

Suppose a jet's fuselage measures 80 feet long and 7 feet in diameter. Our objective is to design a reference wing for it using the following parameters: The subsonic aerodynamic center at 0.25c is...

Answered: 1 week ago

Question

★★★★★

Coffeex is a leading coffee importer and distributor for coffee capsules. The worldwide volume of coffee exports rose to a record of 4.5 billion tones in 2010, or $7 billion. Coffeex was the first...

Answered: 1 week ago

Previous Question Next Question