FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A radio commercial for a loan company states: You only pay 27/ a day for each $500 borrowed. If you borrow $2,930 for 248 days,

image text in transcribed
A radio commercial for a loan company states: "You only pay 27/ a day for each $500 borrowed. "If you borrow $2,930 for 248 days, what amount will you repay, and what annual interest rate is the company actually charging? (Assume a 360-day year.) a. Amount you repay =$ (Round to two decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Plant Auditing A Powerful Tool For Improving Metallurgical Plant Performance

Plant Auditing A Powerful Tool For Improving Metallurgical Plant Performance

Authors: Deepak Malhotra

1st Edition

0873354125, 978-0873354127

More Books

Students also viewed these Accounting questions

Question

★★★★★
Why is the account Dividends not closed with the expense accounts?

Answered: 1 week ago

Question

★★★★★
630 An OP AMP integrator with R = 1M, C = 1F, and vO0 = 0 V has the input waveform shown in Figure P630. Sketch vOt for t > 0. Vs (f) (V) 3 t(s) 10 20 30 40 -1.5 FIGURE P6-30

Answered: 1 week ago

Question

★★★★★
=+2. What narrative type do you think best fits Marks story?

Answered: 1 week ago

Question

★★★★★
The cash account for Collegiate Sports Co. on November 1, 2014, indicated a balance of $81,145. During November, the total cash deposited was $293,150, and checks written totaled $307,360. The bank...

Answered: 1 week ago

Question

★★★★★
The assets of Mora Company are $120,000 and the total liabilities are $20,000. The equity is ________. A) $160,000 B) $220,000 C) $60,000 D) $100,000

Answered: 1 week ago

Question

★★★★★
Identify a consequence of an employer not complying with the requirements under the Worker Adjustment and Retraining Notification (WARN) Act. Multiple choice question. The employer will be imprisoned...

Answered: 1 week ago

Question

★★★★★
As you conduct an in-depth study into Part 139 this week, what strikes you as important or odd? What surprises you? Share with the class your thoughts on whether the regulation is comprehensive...

Answered: 1 week ago

Question

★★★★★
Given the following information, write the equation of a hyperbola. 14. Foci: (0, 8) and (0, -8); Vertices: (0, 7) and (0, -7) 15. Vertices: (6, 0) and (-6, 0); Foci: (61, 0) and (-61, 0) 16. Foci:...

Answered: 1 week ago

Question

★★★★★
Albiote Laboratories has invested in a high-performance centrifuge to treat blood samples received from clinics. In the first step of chemical purification, a technician places test tubes containing...

Answered: 1 week ago

Question

★★★★★
DOO (MA) A-9uga ni hworkz motay? 2.7m] 3.6[m]- ugi A 10 mundillup 2400[N]ot Tsono animated (A B D 2.7[m] E F 4.8[m] Figure-1 1) Determine reaction forces in supports E & F for frame shown in Figure...

Answered: 1 week ago

Question

★★★★★
Question 1 Apply good project management techniques on construction projects. Demonstrate your understanding of the Project Management process by describing the tasks that a Project Manager should...

Answered: 1 week ago

Question

★★★★★
3. Analyzing a Film. View a feature film or a video (e.g., Chir-raq or Brooklyn) and assume the position of a researcher. Analyze the cultural meanings in the film from each of the three...

Answered: 1 week ago

Question

★★★★★
1. Becoming Culturally Conscious. One way to understand your cultural position within the United States and your own cultural values, norms, and beliefs is to examine your upbringing. Answer the...

Answered: 1 week ago

Question

★★★★★
b. Why were these values considered important?

Answered: 1 week ago

Previous Question Next Question