Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8%. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back how much interest on January 20?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8%. The date of the loan was September 20. Janet hoped to repay the loan ...” 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
A. If you get a wage increase of 4%, but inflation is 5%, your real income (purchasing power) goes down. B. Cost push inflation is caused by a rightward shifting aggregate supply curve C.
Answers (1)
Products that are in the maturity stage of their life cycles and have established market acceptance will often use ads so as to continuously stay in the minds of the consumer.
Answers (1)
Jackson Corporation issued a 100% stock dividend of its common stock, which had a par value of $.01, and a market value of $123 before the dividend and $62 after the dividend.
Answers (1)
As a student Shayla enjoys consuming alphabet soup which is considered an inferior good. After Shayla graduates from college she acquires a job working as a data analyst and her income increases dramatically.
Answers (1)
In a free competitive market what is the rationing mechanism
Answers (1)
New Questions in Business
What processes are needed in order to shape alternative design strategies for a system?
Answers (1)
Over the past 40 years, technological advances have reduced the cost of computer chips. how do you think this has affected the market for computers? for computer software? for typewriters?
Answers (1)
Which education savings plan can be used for the K through 12 expenses as well as post secondary expanses
Answers (2)
What is a progressive income tax? a. Tax rate remains the same regardless of income. c. the average tax rate goes up when income goes up. b. The average tax rate goes down when income goes up. d. A tax that is measured at the margin.
Answers (2)
In the market for used cars, the demand and supply equations are given by qd = 12,000 - 0.4p and qs = 0.1p + 5,000, where p is the price per car and q measures the quantity of cars. what happens at a price floor of $20,000?
Answers (1)