1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
madreJ [45]
3 years ago
11

​enrique borrowed $3600 to put a down payment on a motorcycle. the loan had a simple interest rate of 8% for 2 years. use the fo

rmula i = prt to find the amount of interest he will pay on the loan. i = interest; p = principal; r = rate (expressed as a decimal 0.08); t = time in years.
Business
1 answer:
Rudik [331]3 years ago
6 0

Answer:

The amount of interest is $576.

Step by step explanation :

Given : ​Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years.

To find : The amount of interest he will pay on the loan.

Solution : Using the formula,

I=P\times R\times T

Where, I= Interest , P=principal , R= rate, T=time in years

We have given that :

P=$3600

R=8%=0.08

T=2 years

Substitute value in the formula to find interest,

I=P\times R\times T

I=3600\times 0.08\times 2

I=576

Therefore, The amount of interest is $576.

You might be interested in
Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at
Advocard [28]

Answer:

$8,588

Explanation:

income tax brackets 2019

tax rate         income

10%       $0 to $19,400

12%       $19,401 to $78,950

total ordinary income = $64,200 + $33,500 + $1,500 = $99,200

taxable ordinary income = $99,200 - $24,400 = $74,800

tax liability = ($19,400 x 10%) + ($55,400 x 12%) = $1,940 + $6,648 = $8,588

long term capital gains = $13,200 - $10,100 = $3,100

since their total taxable income is below $78,750, their long term capital gains tax rate is 0.

total tax liability = $8,588

6 0
3 years ago
Question 2b<br> Short answer please its only for 2 marks
Ronch [10]

Answer:

a retailer, a marketing agency

Explanation:

Since this business is operating both B2B (business to business) and B2C (business to consumer), it would be wise to transfer the B2C operating to a retailer. It is often hard for manufacturing businesses such as SEP to handle this two-way communication and it is often advised to reach the end users via retailers.

When it comes to marketing agencies, it is a common practice to leave the promotion part of the marketing mix to these external groups. Outsourcing advertising and promotion activities to marketing agencies is very cost-effective, as agencies tend to have more a creative basis.

4 0
2 years ago
Is the coffee market growing or shrinking and why
svetoff [14.1K]

In conclusion, the coffee market is currently experiencing considerable growth in economies around the world, with the rise in urbanization and the demand for quick, quality product fueling the expansion. The market is expected to continue to inflate in the next five years, leaving ample room for returns and profit
6 0
3 years ago
Salma bought a new car by getting a loan from a bank. If she fails to pay back the loan, the bank will claim the car. In this sc
Alenkasestr [34]

The answer is collateral.

A valuable object is used as collateral to secure a loan.

Lenders' risk is reduced by collateral.

The lender has the right to sell the collateral if a borrower defaults on the loan in order to recover its losses.

Two examples of collateralized loans are mortgages and auto loans.

You can utilize other personal belongings, like a savings or investment account, to protect a collateralized personal loan.

The sort of loan frequently dictates the kind of collateral.

Your house serves as collateral when you take out a mortgage. If you obtain a car loan, the vehicle will serve as collateral.

Cars but only if they are fully paid off bank savings deposits, investment accounts, and other sorts of collateral are frequently accepted by lenders.

Retirement account collateral is typically not accepted.

Learn more about loans:

brainly.com/question/14997152

#SPJ4

8 0
1 year ago
Which of the following statements is/are FALSE, all else the same?
xz_007 [3.2K]

Answer:

I. Present values increase as the discount rate increases.

and

III. Present values are smaller than future values when both r and t are positive.

5 0
3 years ago
Other questions:
  • Tayler Company reported the following data.
    10·1 answer
  • Forrest Company manufactures phone chargers and has a JIT policy that ending inventory must equal 10% of the next month’s sales.
    10·1 answer
  • Guinan Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direc
    12·1 answer
  • I have a question, so I put in a job app at McDonalds Saturday and now it's Monday how long does it usually take for job franchi
    5·1 answer
  • Anderson Company sold a piece of equipment for $36,500 cash on December 31 (after recording the annual depreciation entry for th
    13·1 answer
  • Fabri Corporation is considering eliminating a department that has an annual contribution margin of $35,000 and $70,000 in annua
    8·1 answer
  • Alan, an accountant in a law firm, is summarizing his company’s expenses and revenue in the form of an income statement. However
    14·2 answers
  • Purchase Company recently acquired several businesses and recognized goodwill in each acquisition. Purchase has allocated the re
    8·1 answer
  • Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting informa
    7·1 answer
  • Which of the following statements about transactional leaders and the chain of command is FALSE? The chain of command is based o
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!