{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-12T06:03:34-04:00", "answer_date": "2024-09-12 06:03:34", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10404065", "url": "\/study-help\/questions\/on-september-1-2013-susan-chao-bought-a-motorcycle-for-10404065", "question_creation_date_js": "2024-09-12T06:03:34-04:00", "question_creation_date": "Sep 12, 2024 06:03 AM", "meta_title": "[Solved] On September 1, 2013, Susan Chao bought a | SolutionInn", "meta_description": "Answer of - On September 1, 2013, Susan Chao bought a motorcycle for $22,000. She paid $1,000 down and financed the balance with a | SolutionInn", "meta_keywords": "september,1,2013,susan,chao,bought,motorcycle,$22,000,paid,$1,000,financed,balance", "question_title_h1": "On September 1, 2013, Susan Chao bought a motorcycle for $22,000. She paid $1,000 down and financed the balance with a five-year loan at an", "question_title": "On September 1, 2013, Susan Chao bought a motorcycle for $22,000. She", "question_title_for_js_snippet": "On September 1, 2013, Susan Chao bought a motorcycle for $22,000 She paid $1,000 down and financed the balance with a five year loan at an APR of 6 4 percent, compounded monthly She started the monthly payments exactly one month after the purchase (i e , October 1, 2013) Two years later, at the end of October 2015, Susan got a new job and decided to pay off the loan If the bank charges her a 1 percent prepayment penalty based on the loan balance, how much must she pay the bank on November 1, 2015 (Do not round intermediate calculations and round your answer to 2 decimal places, e g , 32 16 )", "question_description": "

On September 1, 2013, Susan Chao bought a motorcycle for $22,000. She paid $1,000 down and financed the balance with a five-year loan at an APR of 6.4 percent, compounded monthly. She started the monthly payments exactly one month after the purchase (i.e., October 1, 2013). Two years later, at the end of October 2015, Susan got a new job and decided to pay off the loan.<\/p> <\/td> <\/tr> <\/tbody> <\/table>

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If the bank charges her a 1 percent prepayment penalty based on the loan balance, how much must she pay the bank on November 1, 2015? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)<\/strong><\/p> <\/td> <\/tr> <\/tbody> <\/table>", "transcribed_text": "", "related_book": { "title": null, "isbn": null, "edition": null, "authors": null, "cover_image": null, "uri": null, "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-12 06:03:34", "see_more_questions_link": "\/study-help\/questions\/business-accounting-2024-September-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/technical-communication\/person-in-the-group-working-alone-compare-and-contrast-the-1996574", "description": "=+person in the group, working alone, compare and contrast the two sites according to these three criteria:", "stars": 0 }, { "url": "\/study-help\/questions\/on-january-1-year-6-magnus-co-leased-a-machine-113784", "description": "On January 1, Year 6, Magnus Co. leased a machine to Fisher Co. The machine was acquired by Magnus on January 1, Year 1, for $200,000. The useful life of the machine was 20 years with no salvage...", "stars": 3 }, { "url": "\/study-help\/questions\/on-september-1-2013-susan-chao-bought-a-motorcycle-for-10404065", "description": "On September 1, 2013, Susan Chao bought a motorcycle for $22,000. She paid $1,000 down and financed the balance with a five-year loan at an APR of 6.4 percent, compounded monthly. She started the...", "stars": 3 }, { "url": "\/study-help\/questions\/interpreting-beta-a-firm-wishes-to-assess-the-impact-of-9021426", "description": "Interpreting beta A firm wishes to assess the impact of changes in the market return on an asset that has a beta of 0.7. a. If the market return increased by 15%, what impact would this change be...", "stars": 3 }, { "url": "\/study-help\/questions\/jeok-claims-he-brought-a-trick-coin-from-a-casino-1003501", "description": "Je-ok claims he brought a trick coin from a casino. In particular, he claims that the coin is more likey to come up heads than tails. To validate his claim, he flips the coin 10 times, and it comes...", "stars": 3 }, { "url": "\/study-help\/questions\/a-coin-is-dropped-from-a-height-of-one-meter-1610274", "description": "A coin is dropped from a height of one meter and is observed to bounce half of the previous maximum height reached. What is the total vertical distance covered by the coin until at halts? A . 2 m B ....", "stars": 3 }, { "url": "\/study-help\/questions\/nicky-was-listening-to-one-of-her-classmates-give-a-1544021", "description": "Nicky was listening to one of her classmates give a speech about architecture in the city. At one point, the speaker used the term \"green spaces\" to describe city parks. Nicky heard the word \"green\"...", "stars": 3 }, { "url": "\/study-help\/questions\/throughout-clays-speech-on-the-environment-he-reviewed-points-previously-1782312", "description": "Throughout Clay's speech on the environment, he reviewed points previously discussed before introducing new points. What is the textbook term for this technique? preview O transition O internal...", "stars": 3 }, { "url": "\/study-help\/questions\/perez-pops-please-read-the-instructions-carefully-a-new-client-1693673", "description": "Perez POPS Please read the instructions carefully. A new client of yours, Katie Perez wants to open an ice cream shop near the downtown shopping center. She will selling Frozen POPS, Frozen Ices,...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/derek-plans-to-retire-on-his-65th-birthday-however-he-10404064", "next": "\/study-help\/questions\/when-an-agent-unilaterally-terminates-an-agency-relationship-it-is-10404066" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Finance", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-finance" }, { "name": "On September 1, 2013, Susan Chao bought a motorcycle for $22,000. She", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/on-september-1-2013-susan-chao-bought-a-motorcycle-for-10404065" } ], "skill_details": { "skill_id": "13", "skill_name": "Finance", "parent_id": "1" } }" } }