What was the rate of interest if the interest on a loan of $675 for 284 days
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (21 reviews)
I 39...View the full answer
Answered By
Michael Mulupi
I am honest,hardworking, and determined writer
4.70+
72+ Reviews
157+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
Agrimex, S.A., a Mexican corporation, borrowed $ 1 million in dollars at a 10% interest rate when the exchange rate was 10 pesos per dollar. When the company repaid the loan plus interest one year...
-
Raul Fletes needed money to buy lawn equipment. He borrowed $500 for seven months and paid $53.96 in interest. What was the rate of interest?
-
The following questions are adapted from a variety of sources including questions developed by the AICPA Board of Examiners and those used in the Kaplan CPA Review Course used to study lease...
-
Select the necessary words from the list of possibilities to complete the following statements. Statements 1. The of SEC registrants selects the company's audit firm. 2. The auditors must assess the...
-
Give two examples of ethical conflicts when values of two cultures lead to opposite conclusions, two examples when rules or standards are morally important to one culture but not important or neutral...
-
The Grebski Auto Repair Shop uses a shop floor control system based on forward scheduling to determine auto completion dates for their customers, and to determine when to release a car to the shop...
-
What information does a load report contain? Why is it useful to production activity control? LO.1
-
Tyrell Co. entered into the following transactions involving short-term liabilities in 2015 and 2016. 2015 Apr. 20 Purchased $40,250 of merchandise on credit from Loco, terms n/30. Tyrell uses the...
-
Gambling from the gamblers perspective is a good example of what type of risk? a. property risk b. pure risk c. arbitrage risk d. speculative risk
-
Kimble, Sykes, and Gerard open an accounting practice on January 1, 2019, in Chicago, Illinois, to be operated as a partnership. Kimble and Sykes will serve as the senior partners because of their...
-
A loan of $5000 is to be repaid in three equal installments due 60, 120, and 180 days after the date of the loan. If the focal date is the date of the loan and interest is 6.9% p.a., compute the...
-
If $680 is worth $698.70 after three months, what interest rate was charged?
-
Burger City is a large chain of fast-food restaurants specializing in gourmet hamburgers. A mathematical model is now used to predict the success of new restaurants based on location and demographic...
-
Can anyone explain me how to calculate the ROI using the HISTORICAL COST NBV, the formula my instructor wants me to use is ADJ CF - HIST DEP /ASSETTOTAL - ACC DEP. And for the ROI of CURRENT COST NBV...
-
Consider the circuit to the right 3. If the total voltage supply in the circuit is 120V, and each resistor has a resistance of 400, what will the current read on each ammeter? |1= 12= 3 = 4. What...
-
1. The theory predicts the proportion of beans, in the four groups A, B, C and D should be 9:3:3:1. In an experiment among 1600 beans, the numbers in the four groups were 882, 313, 287 and 118. Does...
-
Would you recommend criminal charges in this case ( the screenshots below) and, if so, exactly which statutes against which person? Explain your reasoning (how the elements of the crime are met or...
-
check if each transaction is placed in the right place in each of the reports below and if there are any other mistakes in the different accounts after the first image which is a description of the...
-
Describe ways to make a good first impression during a job interview.
-
According during to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1,088 in 2018. Consider the population of "last-minute" filers who mail...
-
Draw a simple organization chart for your organization.
-
A box of mass m = 25 kg is being pulled by a rope. The force that is required to move the box is given by: F = mg/cos + sin where = 0.55 is the friction coefficient and g = 9.81 m/s2. Determine the...
-
A scale is made of two springs, as shown in the figure. The springs are nonlinear such that the force they apply is given by FS = K1u + K2u3, where the K's are constants and u = L - L0 is the...
-
An estimate of the minimum velocity required for a round flat stone to skip when it hits the water is given by (Lyderic Bocquet, "The Physics of Stone Skipping," Am. J. Phys., vol. 71, no. 2,...
-
Mass LLp developed software that helps farmers to plow their fiels in a mannyue sthat precvents erosion and maimizes the effoctiveness of irrigation. Suny dale paid a licesnsing fee of $23000 for a...
-
Average Rate of Return The following data are accumulated by Lone Peak Inc. in evaluating two competing capital investment proposals: 3D Printer Truck Amount of investment $40,000 $50,000 Useful life...
-
4. (10 points) Valuation using Income Approach An appraiser appraises a food court and lounge and provides the following assessment: o O The building consists of 2 floors with the following (6)...
Study smarter with the SolutionInn App