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 31e a day for each $500 borrowedit you borrow $1,966 for 194 days, what

image text in transcribed
A radio commercial for a loan company states "You only pay 31e a day for each $500 borrowedit you borrow $1,966 for 194 days, what amount will you repay and what annual interest rate is the company actualy charging?(Assume a 360-day year Amount you repay-$ 2202 47 Round to two decimal places) b, Annual merest rate Lj% (Round to tour 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

Catechism Of Money

Catechism Of Money

Authors: Joseph P. Root

1st Edition

1377114929, 978-1377114927

More Books

Students also viewed these Finance questions

Question

29. Osberg et al. (A-31) conducted a study to identify factors that predict whether or not similarly impaired children treated at trauma centers are discharged to inpatient rehabilitation. Among...

Answered: 1 week ago

Question

★★★★★
1. After reviewing her personal automobile policy, Bronwyn realized that she had $75,000 of single-limit, Part A coverage; $15,000 of Part B coverage; $75,000 of Part C coverage; and "full" Part D...

Answered: 1 week ago

Question

★★★★★
(Payback and discounted payback perlod caleulations) The Bar-Nono Manufacturing Co. manufactures tenco painels used in catte feed lots throughout the Micwest. Bar:None's management is considering...

Answered: 1 week ago

Question

★★★★★
Analyze, Forecast, and Interpret Income Statement and Balance Sheet Following are the income statement and balance sheet of ADP Inc. Note: Complete the entire question using the following Excel...

Answered: 1 week ago

Question

★★★★★
The company controller has set the revenue target for 2023 at $10,193,100 (or 55,700 pairs). He believes an additional marketin cost of $449,000 for advertising in 2023, with all other costs...

Answered: 1 week ago

Question

★★★★★
North American culture places a great deal of emphasis on a woman's weight in its appraisal of whether she is considered physically attractive. Some other cultures have a clear preference for more...

Answered: 1 week ago

Question

★★★★★
describe how the words we use to discuss personality disorders,( eg., narcissistic, borderline, antisocial,) shape our perception of what is considered normal or abnormal. Provide an example within...

Answered: 1 week ago

Question

★★★★★
Jason has a cat phobia, and therefore feelsanxious whenever he hears the word cat.He also feels anxious when he hears the word feline,which is an example of ____ generalization. a. secondary b....

Answered: 1 week ago

Question

★★★★★
Please answer each MCQ and give a small explanation (1-2 senetnces): This theory argues that progress and change in science are attributable to the ideas of unique individuals? A) Naturalistic...

Answered: 1 week ago

Question

★★★★★
Apply your own composing style to personalize your messages.

Answered: 1 week ago

Question

★★★★★
Format memos and e-mail properly.

Answered: 1 week ago

Question

★★★★★
Discuss the characteristics of appropriate stationery for letters,memos, and envelopes.

Answered: 1 week ago

Previous Question Next Question