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
gulaghasi [49]
3 years ago
5

Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8%. The date of the loan was September 20. Janet hoped to repa

y the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back how much interest on January 20?
Business
1 answer:
coldgirl [10]3 years ago
8 0

Answer:

The interest is $189.78

Explanation:

The computation of the interest on January 20 is shown below:

= Principal × interest rate × number of days ÷ total number of days in a year

= $7,000 × 8% × 122 days ÷ 360 days

= $7,000 × 8% × 0.338

= $189.78

The 122 days are calculated below:

September - 10 days

October - 31 days

November - 30 days

December - 31 days

January  - 20 days

Total    - 122 days

And we assume the 360 days in a year

You might be interested in
A broker represents a seller as a single agent on the sale of his property. A buyer comes to the house and wants the broker to s
Svetradugi [14.3K]

Answer:

Undisclosed dual agency

Explanation:

Undisclosed dual agency

Undisclosed dual agency is a dual agency relationship that is not disclosed and agreed to in writing. When sucn an incident occurs, the agent has breached his or her fiduciary responsibilities to the client, which happens to be illegal in some places it should be agreed then it is make legal by such an act.

5 0
4 years ago
You have been given this probability distribution for the holding period return for KMP Stock State of the Economy Boom Normal R
Hunter-Best [27]

Answer: The answer is a

Explanation:

Using the formula

Expected Rate of Return = ∑(i =1 to n) Ri Pi

Where Ri = Return in scenario 1

Pi = Probability for the return in scenario 1

i = Number of scenario

n = Total number of probability and Return

P1=30

R1 = 18

P2 = 50

R2 =12

P3 = 20

R3 =-5

Expected Gain =(30 ×18) + (50 × 12) + ( 20 × -5)

= 540 + 600 + - 100

= 1,040

= 1,040 ÷ 100

= 10.4%

7 0
4 years ago
Who must file an income tax return?
IrinaVladis [17]

Answer:

The tool is designed for taxpayers who were U.S. citizens or resident aliens for the entire tax year for which they're inquiring. If married, the spouse must also have been a U.S. citizen or resident alien for the entire tax year.

Explanation:

6 0
3 years ago
suppose a consumer has preferences between two goods that are perfect substitutes. can you change prices in such a way that the
Rashid [163]

Yes you can change prices in such a way that the entire demand response is due to the income effect.

What is Income effect?

Usually, when we talk about perfect alternatives, we are talking about lowering the cost of the expensive good. If you were on the y axis of the performance subs graph, the price of good x, which was previously quite expensive, has now decreased. Therefore, your decision will be limited to the x axis.

The term "income effect" describes the shift in real income or purchasing power brought on by a price adjustment. Therefore, as prices drop, your real income essentially rises.

If we lower the cost of the already affordable good. The consumer's real income then rises. As a result, he purchases the cheap item.

Therefore, this shift in demand, where he now purchases more of the cheap commodity, has been brought about by an increase in real income due to a decrease in the price of the previously cheap good.

So, The answer is Yes.

To know more abou Income Effect:

brainly.com/question/1416285

#SPJ4

4 0
1 year ago
In 2020, Neighbor Co-Op Inc. sells 1,100 beverages in glass bottles and receives a $1.00 deposit for each returnable bottle sold
Effectus [21]

Answer:

104

Explanation:

Because there was 130 that were forfeited and each bottle is 0.80 I multiplied 0.80x130 and got 104

4 0
3 years ago
Other questions:
  • A company with $780,000 in operating assets is considering the purchase of a machine that costs $84,000 and which is expected to
    6·1 answer
  • William was given an assignment from his supervisor that had never been a part of his work for the company before. It was a new
    5·2 answers
  • Suppose that each worker must use only one shovel to dig a trench, and shovels are useless by themselves. In the long run, an in
    9·1 answer
  • Which of the following statements regarding fiscal policy are true according to the macroeconomic consensus in the United States
    7·1 answer
  • Mike is the Director of Human Resources for a 120-employee family-owned manufacturing firm. Mike has been quite busy the last ye
    12·1 answer
  • Corruption, Inc., uses process costing, they have overstated the percentage of work completed with respect to conversion cost on
    12·1 answer
  • Which of these careers interest you? Check any that apply.
    5·2 answers
  • Which of the following are arguments in favor of active stabilization policy by the government? Check all that apply. a) Busines
    11·1 answer
  • A manager hires labor and rents capital equipment in a very competitive market. Currently the wage rate is $12 per hour and capi
    6·1 answer
  • the tragedy of the commons is the: tendency to underconsumed common resources. destruction of nonrival, nonexcludable goods. des
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!