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Taya2010 [7]
3 years ago
9

You get a $3,000 loan at 9% interest for 120 days. The lender uses a 365-day year. How

Business
1 answer:
Luda [366]3 years ago
8 0

Answer:

$3,088.80  

Explanation:

Note that the loan is meant for 120days , however, the interest rate quoted is on an annual basis, hence, the interest for 120 days is 2.96%  ( 9%*120/365).

It is equally important to note that at maturity the loan principal and the interest accrued thus far for 120 days are repayable to the lender as computed below:

total repayment=$3000+($3000*2.96% )

total repayment=$3000+$88.80  

total repayment=$3,088.80  

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The more electricity, communications, and transportation used in a nation's economy, it will give them a more developed country and a greater potential for increased industrialization.

Explanation:

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3 years ago
On January 1, 2009, Diego owed $14,033 to his friend Ricardo, who was kind enough not to charge Diego any interest. Each month d
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Compute and select the correct common-size percent for each account title.Total Assets is $700,000 Accounts Payable is $75,000 B
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Answer and Explanation:

The computation for each corrected common-size percent for each account is shown below:

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Total assets           $700,000                    100%

Accounts payable $75,000                      10.71%

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Common stock      $300,000            42.86%

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3 0
3 years ago
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