What is the amount Patty repaid to the bank on the due date of the loan? Patty
Question:
What is the amount Patty repaid to the bank on the due date of the loan?
Patty borrowed $1640 from a bank for 18 months to buy a new office computer. The simple interest rate charged is 3.15%.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
Total amount paid to ...View the full answer
Answered By
Akshay Agarwal
I am a Post-Graduate with a specialization in Finance. I have been working in the Consulting industry for the past 8 years with a focus on the Corporate and Investment Banking domain. Additionally, I have been involved in supporting student across the globe in their academic assignments and always strive to provide high quality support in a timely manner. My notable achievements in the academic field includes serving more than 10,000 clients across geographies on various courses including Accountancy, Finance, Management among other subjects. I always strive to serve my clients in the best possible way ensuring high quality and well explained solutions, which ensures high grades for the students along-with ensuring complete understanding of the subject matter for them. Further, I also believe in making myself available to the students for any follow-ups and ensures complete support and cooperation throughout the project cycle. My passion in the academic field coupled with my educational qualification and industry experience has proved to be instrumental in my success and has helped me stand out of the rest. Looking forward to have a fruitful experience and a cordial working relationship.
5.00+
179+ Reviews
294+ Question Solved
Related Book For
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
Question Posted:
Students also viewed these Mathematics questions
-
Patty Plainte wants to compare the final grades of the students in Mr. Mean's class with those in Ms. Nice's class. (Patty is a student in Mr. Mean's class, and thinks that her teacher's nasty...
-
How much interest did Patty pay for the use of the money? Patty borrowed $1640 from a bank for 18 months to buy a new office computer. The simple interest rate charged is 3.15%.
-
Change the number to a percent. Round your answer to the nearest tenth of a percent. 0.0098
-
Please complete the Web case that covers material discussed in this chapter at www.cengage.com/accounting/Gibson. Youll be using Thomson ONE Business School Edition, a powerful tool that combines a...
-
An experimenter wishes to obtain a CI for the difference between true average breaking strength for cables manufactured by company I and by company II. Suppose breaking strength is normally...
-
Look back in the chapter to Table 15-1, which showed the balance sheets for Argile Textiles on three different dates. Argile's sales fluctuate during the year due to the seasonal nature of its...
-
What factors would you take into account in deciding whether to split a job? LO.1
-
Selected accounts from the adjusted trial balance of Daniel's Sports Equipment on September 30, 2010, the fiscal year end. The company's beginning merchandise inventory was $81,222 and ending...
-
Suppose the productivity of capital and labor are as shown in the accompanying table. The output of these resources sells in a purely competitive market for $1 per unit. Both capital and labor are...
-
Munnster Corporations income statements for the years ended December 31, 20X2 and 20X1, included the following information before adjustments: On January 1, 20X2, Munnster Corporation agreed to sell...
-
Fill in the blanks with an appropriate word, phrase, or symbol(s). A type of annuity in which the goal is to save a specific amount of money in a specific amount of time is called a(n) ________ fund.
-
Fill in the blanks with an appropriate word, phrase, or symbol(s). Interest prepaid by the buyer, which may be used to reduce the stated interest rate the lender charges, are known as __________.
-
Explain how the (OTP) one-time password approach works.
-
Working in the production area of a manufacturing company is right where William feels at home. Several of his family members had worked in similar environments throughout their careers, and he loves...
-
Use the Nernst equation and reduction potential data from (Petrucci's Appendix D; OpenStax's Table 16.1) to calculate Ecell for the following cell: Al (s) | Al3+ (0.18 M) || Fe+ (0.85 M) | Fe (s)
-
1.) Describe economic interventions that the federal government used to deal with the COVID shutdown and subsequent inflation. Would you have done anything differently? 2.) Describe three of the...
-
The goal is to understand the principles of project valuation and capital budgeting in a practical setting, using a combination of fictitious data and real-world examples. Begin by proposing a...
-
45. The use of realistic predetermined unit costs to facilitate product costing, cost control, cost flow, and inventory valuation is a description of the A. flexible budget concept. B. budgetary...
-
Yesenia is a lawyer who uses the cash method of accounting. Last year Yesenia provided a client with legal services worth $55,000, but the client could not pay the fee. This year Yesenia requested...
-
Which of the following statements is false? a. Capital leases are not commonly reported in a Capital Projects Fund. b. A governmental entity may report a Capital Project Fund in one year but not the...
-
A bag contains five balls numbered 1, 2, 4, 7, and *. Choose two balls at random without replacement and add the numbers. If one ball has the *, double the amount on the other ball. Construct the...
-
Complete the following probability distribution if P(6) equals two-thirds of P(4). Then find μ, Ï 2 , and Ï for the distribution. 2 0.23 1 4 9. 6. P(X) ? 0.18 0.015
-
When one die is rolled, the expected value of the number of dots is 3.5. In Exercise 20, the mean number of dots was found for rolling two dice. What is the mean number of dots if three dice are...
-
Rank the following three stocks by their risk-return relationship, best to worst. Night Ryder has an average return of 10 percent and standard deviation of 27 percent. The average return and standard...
-
Use the following information: \ table [ [ Country , \ table [ [ Consumer Prices ] ] , Interest Rates,Current Units ( per US$ ) ] , [ Forecast , 3 - month, 1 - yx Covt Bond,, ] , [ 2 0 2 4 e ,...
-
Year-to-date, Yum Brands had earned a 3.70 percent return. During the same time period, Raytheon earned 4.58 percent and Coca-Cola earned 0.53 percent. If you have a portfolio made up of 40 percent...
Study smarter with the SolutionInn App