Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 11, 2024

The interest charged on a loan was $21.50 for 60 days. The loan principal was $525. What rate of simple interest per annum was used?

The interest charged on a loan was $21.50 for 60 days. The loan principal was $525. What rate of simple interest per annum was used? (\% to 2 decimals)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

The Handbook Of Mortgage Backed Securities

Authors: Frank Fabozzi

6th Edition

0071460748, 978-0071460743

More Books

Students also viewed these Finance questions

Question

★★★★★

A grocer stacks oranges in a pyramid like pile. If the bottom layer is rectangular with 10 rows of 16 oranges and the top layer has a single row of oranges, how many oranges are in the stack?

Answered: 1 week ago

Question

★★★★★

Why did Dr. Rabb choose the diagnosis of bipolar I?

Answered: 1 week ago

Question

★★★★★

Given the following diagram, a. What is the capacity of this system? b. If the capacity of one operation could be increased in order to increase the output of the system, which operation should it...

Answered: 1 week ago

Question

★★★★★

The interest charged on a loan was $21.50 for 60 days. The loan principal was $525. What rate of simple interest per annum was used? (\% to 2 decimals)

Answered: 1 week ago

Question

★★★★★

Outdoor Luggage, Inc., makes high-end hard-sided luggage for sports equipment. Data concerning three of the company's most popular models appear below. Ski Selling price per unit Variable cost per...

Answered: 1 week ago

Question

★★★★★

O'Hara Photography's checkbook lists the following (Click the icon to view the checkbook.) Read the requirements Requirement 1. Prepare O'Hara Photography's bank reconciliation at November 30, 2024....

Answered: 1 week ago

Question

★★★★★

On January 1, 2022, Blossom Corporation acquired machinery for $1470000. Blossom adopted the straight-line method of depreciation for this machine and had been recording depreciation over an...

Answered: 1 week ago

Question

★★★★★

The result of a TLC experiment showed that a compound has an Rf value of 0.25 on a silica gel plate using 10% ethyl acetate in hexane as the mobile phase. Indicate if the Rf values of the compound...

Answered: 1 week ago

Question

★★★★★

What are the purposes of promotion ?

Answered: 1 week ago

Question

★★★★★

4. How do you feel about airlines mining your in-flight data? Is this any different from companies mining your credit card purchases or Web surfing? With the amount of data available to companies...

Answered: 1 week ago

Question

★★★★★

1. Describe the kinds of data being analyzed by the companies in this case. With the amount of data available to companies doubling every year, new sources of data, and innovations in data...

Answered: 1 week ago

Question

★★★★★

2. How is this fine-grained data analysis improving operations and decision making in the companies described in this case? What business strategies are being supported? With the amount of data...

Answered: 1 week ago

Previous Question Next Question