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2 years ago

what is the annual interest rate for a 90-day note issued with a face value of $8,000 that will earn interest of $160?

Business

2 answers:

zubka84 [21]2 years ago

8 0

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Readme [11.4K]2 years ago

3 0

The annual interest rate for this note that would earn the interest of $160 is 8%.

In order to solve this problem, we have to use the interest rate formula

$InterestRate = P*R *T$

where

P = Principal
R= Rate
T = Time

We divide 90 days by the total days in a year

= 90/365

= 0.2466

Principle * time

= 0.2466 * 8000 = 1972.6

The annual interest rate

= 160/1972.6

= 0.081

= 8%

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sveticcg [70]

Answer:

The correct answer is E

Explanation:

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3 years ago

stimulating demand. creating awareness. identifying prospects. combating competitive promotional efforts. retaining loyal custom

KonstantinChe [14]

competitive promotional efforts. retaining loyal customers.

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2 years ago

Shonda Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials:

kotykmax [81]

Answer:

Manufacturing costs incurred during 2017= $769,000

Explanation:

Giving the following information:

Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands):

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Cost of direct materials available for use= 395,000

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Indirect manufacturing labor= $95,000

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Repairs and maintenance—plant= 17,000

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3 years ago

When a policy is surrendered for its cash value,?

ahrayia [7]

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3 years ago

Queen, inc., has a total debt ratio of .32.

gulaghasi [49]

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Equity multiplier = 1.47 (Rounded to 2 decimals)

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3 years ago