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
s2008m [1.1K]
3 years ago
10

Owen expects to receive $ 25,000 at the end of next year from a trust fund. If a bank loans money at an interest rate of 7.1 %​,

how much money can he borrow from the bank on the basis of this​ information?a) $18,605
b) $11,428
c) $25,500
d) $20,000
Business
1 answer:
Rzqust [24]3 years ago
4 0

Answer: He could borrow from one of the following options:

(a) $18,605

(b) $11,428

(d) $20,000

Explanation:

If Owen borrows $18,605

Bank interest rate = 7.1% of $18,605

=7.1/100 ×$18,605

=$1, 320.955

Owen's debt at his bank=

$18,605+$1,320.9555 =

$19,925.955

When Owen receives the trust fund of $25,000, he can pay his debt and still has $5,074.045 with him.

If Owen borrows $11,428

Bank interest rate = 7.1% × $11,428

=$811. 388

Owen's debt at his bank=

$811.388+$11,428 =

$12,239.388

When Owen receives the trust fund of $25,000, he can pay his debt and still has $12,760.612 left with him.

If Owen borrows $20,000

Bank interest rate =7.1% of $20,000

=7.1/100 ×$20,000

=$1, 420

Owen's debt at his bank=

$20,000 + $1,420 = $21,420

When Owen receives the trust fund of $25,000, he can pay his debt at his bank and still has $3,580 left with him.

You might be interested in
Which factor can be a barrier to a person applying for a job as a cook at a fast-food restaurant?
Marrrta [24]
The answer is d i think
7 0
3 years ago
In year 2, Rocco changes its inventory method from the weighted-average to the FIFO method. If FIFO would have been used in year
nadezda [96]

Answer: I Don't Know sorry

Explanation:

4 0
2 years ago
You must place a child in an approved child seat if the child is __________
katovenus [111]
<span>You must place a child in an approved child seat if the child is A. three years of age and under.
If the child is really young, then it has to sit in an approved child seat in a car, because if has to be protected from any harm while you are driving. Older kids, who can more or less protect themselves if something bad happens don't have to sit in these seats, however, they have to wear a seatbelt.
</span>
8 0
3 years ago
Which of the following choices is NOT a use for project plans in the workplace?
bixtya [17]
Out of the choices given, the choice that is NOT a use for project plans in the workplace is teacher lesson plans. The correct answer is B. 
6 0
2 years ago
In a liquidation, a.gains or losses are distributed according to the partnership agreement. b.assets may be sold at amounts that
Sergeeva-Olga [200]

Answer:

D

Explanation:

Liquidation is when the business closes down or dissolves which means the business will not continue any further. Firstly all the assets are sold at their market value which differs from the actual cost or the book value and all the liablities are paid for (or compensated for). After paying all the due balances and receiving all receivables the gain or loss is divided amongst the partners according to their partnership agreement which states the profit/loss sharing ratio. in case of no agreement, the profit/loss is shared equally.

8 0
3 years ago
Other questions:
  • The following information relates to a company's defined benefit pension plan at December 31:Accumulated benefit obligation1,035
    8·1 answer
  • Angela, a manager at Exuberance Inc., believes in giving special attention to the needs of employees, creating learning opportun
    11·1 answer
  • A garment manufacturing company makes 380,000 articles per year. Each article takes 95 minutes of direct labor at the rate of $9
    15·1 answer
  • When preparing her monthly budget, marge kent has a total spending allowance of $4,600. each month she pays $1,200 in rent, $60
    13·1 answer
  • Amy and Brian agreed to pay $385,000 for the company. Ernesto has a tax basis in the BLI stock was $100,000. Included in the sal
    11·1 answer
  • Well before the introduction of its Karma Drone, GoPRO conducted a thorough environmental scan and discovered a substantial incr
    9·1 answer
  • JDW Corporation reported the following for 20X1: net sales $2,929,500; cost of goods sold $1,786,995; selling and administrative
    10·1 answer
  • The Blossom Company has disclosed the following financial information in its annual reports for the period ending March 31, 2017
    8·1 answer
  • Jason is shopping at Hollister. Hollister has a sale: spend $100 saves 10%. If Jason buys clothes that costs $100, how much will
    6·1 answer
  • COMO CREES QUE SE PODRIA SOLUCIONAR LA POBREZA ?? POR FAVOR DOY CORONA , Y CORAZON ( E QUE NO SEPA NO ESCRIBA ) :(
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!