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

Question

1 Approved Answer

Solve the problem. Assume that simple interest is being calculated. Round your answer to the nearest cent if necessary. 54. Annie borrows $3100 and agrees

Solve the problem. Assume that simple interest is being calculated. Round your answer to the nearest cent if necessary. 54. Annie borrows $3100 and agrees to pay it back in 8 years. If the simple interest rate is 13%, find the total amount she pays back. A) $6324.00 B) $35,340.00 C) $32,240.00 D) $3224.00

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_2

Step: 3

blur-text-image_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

College Algebra

College Algebra

Authors: Robert F Blitzer

7th Edition

013449492X, 9780134453262

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Refer to the data in Short Exercise S4-1. Prepare Dalton's statement of retained earnings for the year ended December 31, 2018. In Short Exercise S4-1 Dalton Hair Stylists's adjusted trial balance...

Answered: 1 week ago

Question

★★★★★
Current Position Analysis The following items are reported on a company's balance sheet: Cash $340,700 Marketable securities 266,200 Accounts receivable (net) 255,000 Inventory 202,800 Accounts...

Answered: 1 week ago

Question

★★★★★
9. Select any industry listed earlier, or any other industry of your choice, and list some specifi c programs that you believe represent their attempt to implement their chosen demand management...

Answered: 1 week ago

Question

★★★★★
Essex Biochemical Co. has a $1,000 par value bond outstanding that pays 15 percent annual interest. The current yield to maturity on such bonds in the market is 17 percent. Compute the price of the...

Answered: 1 week ago

Question

★★★★★
Solve the problem. Assume that simple interest is being calculated. Round your answer to the nearest cent if necessary. 54. Annie borrows $3100 and agrees to pay it back in 8 years. If the simple...

Answered: 1 week ago

Question

★★★★★
Kanye West, best known for his Grammy - winning rap albums, partnered with Adidas to develop a high - end footwear line called Yeezy. He created various videos and slideshows that were promoted on...

Answered: 1 week ago

Question

★★★★★
a) Having successfully completed your finance studies at the ANU, you embark on an exciting career as a fund manager. One of your first assigned tasks is to create a suitable portfolio for a client,...

Answered: 1 week ago

Question

★★★★★
3. You want to ensure that Philip and Jennifer have all the key insurance protections in place in case something unfortunate was to happen to one of them. What process would you follow during your...

Answered: 1 week ago

Question

★★★★★
On 3 October 20X1, Netec Pte Ltd (Netec) purchased a patent costing $2 million to use in a project to develop new products. The legal fee to transfer the patent cost $40,000. Subsequently, Netec...

Answered: 1 week ago

Question

★★★★★
At 1% significance level, does college academic grade depend on the high school NCEE results for the following 200 students? NCEE Low Average High Total 79 Acad. grade Above 85 13 25 75-85 18 Below...

Answered: 1 week ago

Question

★★★★★
Ob For Exercises 5-8, find (f + g)(x) and identify the graph of + g. (See Example 1) 5. f(x)=x and g(x) = 3 == 7. f(x) and g(x) = -4 a. b. 6. f(x) x and g(x) = -4 8. f(x) = x and g(x) = 3 -4-3-...

Answered: 1 week ago

Previous Question Next Question