Letitia borrowed $6,000 from her bank two years ago. The loan term is four years. Each year, she must repay the bank $1,500 in principal plus the annual interest. The payments are in equal amounts, with the entire loan paid off by the end of the four years. Which type of loan does she have
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Letitia borrowed $6,000 from her bank two years ago. The loan term is four years. Each year, she must repay the bank $1,500 in principal ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
When the actual reserves held by a bank exceed the legal requirement
Answers (1)
A 22-year old, unmarried, new customer contacts you, explaining that he just inherited $10,000,000 and wishes to invest the money aggressively to produce superior returns.
Answers (1)
Audio Corporation purchased $20,000 of DVDs during the current year. The company had DVD inventory of $15,000 at the beginning of the year. An end of the year audit revealed that the company had DVD inventory of $10,000.
Answers (1)
A likely outcome of increased self-knowledge is
Answers (1)
Discount Store, a retail business, keeps a $100 change fund in its cash register. If Discount started business on September 29 and had cash sales per the cash register on that day of $1,200, but the cash count showed $1,307, then the cash register
Answers (1)
New Questions in Business
Why is it important to know the interest rate on your credit card? a) The higher the interest rate, the more money you will be paying back b) The higher the interest rate, the less money you will be paying back c) The lower the interest rate, the
Answers (2)
It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and only all the firms being compared have the same proportion of fixed assets to total assets. a) trueb) false
Answers (1)
Which of the following actions differentiates an entrepreneur from other small business owners?
Answers (1)
Mccoo Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $1.50 per direct labor-hour.
Answers (1)
Which of the following is true of Finished Goods Inventory? A. Finished Goods Inventory is an account used by a manufacturer and includes completed goods that have not yet been sold. B.
Answers (1)