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

Question

1 Approved Answer

The lawyer for a credit union member has sent a cheque for $ 2 1 9 2 . 3 3 in full settlement of the

The lawyer for a credit union member has sent a cheque for $ 2192.33 in full settlement of the member's loan balance including interest at 41/3%
for 9 months. How much of the payment is interest?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions

Question

Discuss how to maintain a positive learning environment by encouraging student engagement, preventing problems, and developing caring, respectful relationships with your students.

Answered: 1 week ago

Question

★★★★★
Jane Shay operates a management consulting business. The business has been successful and now produces a taxable income of $65,000 per year after all "ordinary and necessary" expenses and...

Answered: 1 week ago

Question

★★★★★
Your answer is partially correct. Prepare the adjusting journal entry to record bad debts expense at June 30 assuming that Marx's allowance for doubtful accounts had a credit balance of $14,030...

Answered: 1 week ago

Question

★★★★★
On January 1 5 , 2 0 2 0 , Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1 , 2 0 2 4 , at an estimated cost of $ 8 , 0 0 0 , 0 0 0 . Dolan plans to make...

Answered: 1 week ago

Question

★★★★★
manufacturing has its challenges, especially when the product is high production quantities at low margins. This has made quality inspection more common place in manufacturing processes. Which points...

Answered: 1 week ago

Question

★★★★★
Refer to Step 3.3. In the "Constrained" or "Long Only" version of the optimal risky portfolio, what is the portfolio standard deviation? answer as a percentage, with no percentage symbol ("%"),...

Answered: 1 week ago

Question

★★★★★
As a security operative for a Fortune 1000 company, how would I protect my organization's assets?

Answered: 1 week ago

Question

★★★★★
Olney LLC only purchased one asset this year. Olney LLC placed in service on July 19, 2023, machinery and equipment (seven-year property) with a basis of $1,330,000. Assume that Olney has sufficient...

Answered: 1 week ago

Question

★★★★★
A marketing company needs to decide how much time to allocate between radio and television advertising during the next month. The manager has determined that at least 80% of the time should be...

Answered: 1 week ago

Previous Question Next Question