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Paraphin [41]
3 years ago
7

Wang, Inc. borrowed $10,000 from Second National Bank on January 1, 2010. The loan is to be repaid on July 1, 2010, along with i

nterest at 6% per year. How much interest should be paid on July 1?
Business
1 answer:
mrs_skeptik [129]3 years ago
6 0

Answer:

$300

Explanation:

Given that:

Amount borrowed = $10000

Date borrowed = Jan 1, 2010

Repayment date = July 1, 2010

Interest rate = 6% ; time = 6 months = 0.5 year

Using the relation :

A = P(1 + rt)

A = final amount to be paid

A = 10000(1 + 0.06*0.5)

A = 10000(1 + 0.03)

A = 10000(1.03)

A = $10,300

Interest paid = $10300 - $10000 = $300

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One of the most challenging tasks for any firm, including In Fine Fettle, is determining how much to spend on promotion. Four ba
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Answer:

A) the affordable method,

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Explanation:

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8 0
3 years ago
Some sellers put specific limitations in the warranty to limit the effectiveness of a warranty. Such a denial or repudiation in
Anit [1.1K]

Answer:

Disclaimer

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