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

Question

1 Approved Answer

Mary has just received an offer in the mail from Great Loans. The company is offering to loan her $1.250 with low monthly payments of

image text in transcribed
Mary has just received an offer in the mail from Great Loans. The company is offering to loan her $1.250 with low monthly payments of $75 per month. If the Interest rate on the loan is an APR of 14.2 percent compounded monthly, how long will it take for her to pay off the loan? Multiple Choice BRO months 16 59 months O totes morte 949 month

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

Global Business Today

Global Business Today

Authors: Charles Hill

7th Edition

0078137217, 9780078137211

More Books

Students also viewed these Finance questions

Question

★★★★★
Use the currency exchange rates in Table 3.2 to calculate the equivalent amounts of currencies. TABLE 3.2 Currency Cross Rates (noon, Toronto, August 13, 2009) Per C$ Per US$ Per Per Y Per Per AS...

Answered: 1 week ago

Question

★★★★★
What accounting records are used by accounts payable personnel to keep track of amounts owed to each vendor?

Answered: 1 week ago

Question

★★★★★
Were instruments explored for gender bias? For example, were instruments used for both sexes that had only been validated for one sex? Did questions use sexist language? Was consideration given to...

Answered: 1 week ago

Question

★★★★★
Barnes Books allows for possible bad debts. On May 7, Barnes writes off a customer account of $7,000. On September 9, the customer unexpectedly pays the $7,000 balance. Record the cash collection on...

Answered: 1 week ago

Question

★★★★★
A hospitality operation has sales revenue of $444,000 with variable costs averaging 42%. Fixed costs are $188,482. What is the sales revenue necessary to obtain a net income of $48,000? $407,727.59...

Answered: 1 week ago

Question

★★★★★
Do a cost-benefit analysis for trucking that carries dairy products. At first, the company had only 1 available truck to conduct pick-up and dispatch. However, the company then leased 8 trucks to add...

Answered: 1 week ago

Question

★★★★★
Describe why it is important for a rural community\'s municpal government to perform a strategic planning process every five to seven years?

Answered: 1 week ago

Question

★★★★★
Question 21 2 pts Zapp's Inc. purchased equipment for $60,000 on January 1, 2021. The salvage value is $1,400, and the estimated useful life is 5 years. The company usually uses the double- declining...

Answered: 1 week ago

Question

★★★★★
Think about the technology you've had access to as an employee or as a student. This can include applications, systems, portals, etc. Which technology did you use the most? What types of technology...

Answered: 1 week ago

Question

★★★★★
Question 1 5 pts International trade may offer lower unit prices but at a higher risk. Consider the total cost and trade off lower production costs with higher priced transportation and more...

Answered: 1 week ago

Question

★★★★★
The structure is hingedly supported at point A. The structure is affected by a triangular load q and a point load F. Solve the symbolic expressions for the support reactions. F=qL B K 2 3L 4L

Answered: 1 week ago

Question

★★★★★
4. Select a person you want to model. Choose what you want to model in this person, such as relationship skills. a. Observe what he does and how he does this in relationships with others. b. Try to...

Answered: 1 week ago

Question

★★★★★
2. Start with a person you want to model. a. Use the five positions to investigate how this person positions himself in relation to others, i.e. how he uses the five positions in his interaction with...

Answered: 1 week ago

Question

★★★★★
1. Start with a leader that you want to model. a. What is the stated purpose of this person? b. What is the vision of this person? c. How does he seek to achieve his purpose and vision? d. What does...

Answered: 1 week ago

Previous Question Next Question