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
You've invested a lot in Moondogs - - now you need to find the right price to charge for your coffee. It has to be low enough to attract business, but high enough to ensure you make a profit. What's a good step in figuring out the right price?
Answers (1)
Occurs when members of the marketing channel collude to control the prices passed on to consumers.
Answers (1)
When should i use a comma to separate a description of items in a sentence
Answers (1)
The decentralized commercial and office districts that have emerged on the fringes of metropolitan areas near such features as freeway interchanges and airports have been called Group of answer choices
Answers (1)
How do mutual funds reduce risk? They invest in stocks They provide investment diversification They use an investment manager None of the above
Answers (1)
New Questions in Business
What is the alternate name for income tax return form1040?
Answers (1)
Porite Company recognizes revenue in the period in which it records an asset for the related account receivable, rather than in the period in which the account receivable is collected in cash.
Answers (1)
You have $ 400 and a bank is offering 4.0 % interest on deposits. If you deposit the money in the bank, how much will you have in one year?
Answers (1)
A promissory note a. cannot be factored to another party. b. has the party to whom the money is due as the maker. c. may be used to settle an accounts receivable. d. is not a formal credit instrument.
Answers (1)
Davison Company determined that the book basis of its net accounts receivable was less than thetax basis of its net accounts receivable by $800,000 due to a difference in the allowance for baddebts account.
Answers (1)