Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 15, 2024

You buy a stove for $1500 on February 20. The store gives you 4 months interest free, after which you must pay the $1500. However,

You buy a stove for $1500 on February 20. The store gives you 4 months interest free, after which you must pay the $1500. However, the store charges an administration fee of $50, to be paid today. What rate of simple interest, r, are you being charged for this interest free plan? The answer is 10.49% according to my prof, but i dont know how to get it

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

Mergers Acquisitions And Other Restructuring Activities

Authors: Donald DePamphilis

11th Edition

012819782X, 978-0128197820

More Books

Students also viewed these Finance questions

Question

★★★★★

Refer to Exercise 15.65. Compute Spearman's rank correlation coefficient for these data and test H0 : no association between the rank pairs at the 10% level of significance. Exercise 15.65 The table...

Answered: 1 week ago

Question

★★★★★

You are given four resistors, all with resistance R. Devise a way to connect these resistors to get an equivalent resistance of 2.5R.

Answered: 1 week ago

Question

★★★★★

Js car buying policy is to always buy a new car, repair all breakdowns that occur during the first T time units of ownership, and then junk the car and buy a new one at the first breakdown that...

Answered: 1 week ago

Question

★★★★★

Calculations for various depredation methods. On January 1, 2008, Luck Delivery Company acquired a new truck for $30,000. It estimated the truck to have a useful life of five years and no salvage...

Answered: 1 week ago

Question

★★★★★

Whispering Winds Corp. had the following transactions during the current period. Mar. 2 Issued 4,000 shares of $5 par value common stock to attorneys in payment of a bill for $24,700 for services...

Answered: 1 week ago

Question

★★★★★

public class Main { public static void main(String[] args) { /// write your code here compute Award(name, gpa);//passes name and gpa to computeAward method }//ends main method public static void...

Answered: 1 week ago

Question

★★★★★

Over the next decade, Foleo Enterprises Pty Ltd grew exponentially, and whilst the increased demand for their Australian-made phones was welcome, it was unexpected and unplanned. James and Leon tried...

Answered: 1 week ago

Question

★★★★★

Pharoah Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible accounts were estimated to be 10% of accounts...

Answered: 1 week ago

Question

★★★★★

A jacketed-agitated vessel, fitted with a turbine agitator, is used for heating a water stream from 10C to 54C. The tank diameter D= 0.6 m, height H= 0.6 m, and agitator diameter D = 0.2 m. Saturated...

Answered: 1 week ago

Question

★★★★★

Q2 The following system works to lift a specific load. It transmits the movement from the worm (A, 600rpm) to the worm gear (B, 90 teeth) and then to the small sprocket (C, 40 teeth) attached to it...

Answered: 1 week ago

Question

★★★★★

Digna Co., a subsidiary of Shell Corpo. Began operations at the beginning of 2014. The functional currency of Digna Co. is the Italian lira; the functional currency and reporting currency of Jill...

Answered: 1 week ago

Question

★★★★★

Make sure that any incoming e-mail is routed to the right department.

Answered: 1 week ago

Question

★★★★★

Ask customers to choose the category of complaint they are sending, giving them a drop-down menu, so their e-mail can be forwarded to the correct department.

Answered: 1 week ago

Question

★★★★★

How do you respond to anger action chains when confronting hostile customers? What questions do you have ready to ask upset customers?

Answered: 1 week ago

Previous Question Next Question