This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: James Alwine financed a 7,800 fishing boat with a 10 add-on interest installment loan for 18 months. ... (Read 104 times)

Marty

  • Hero Member
  • *****
  • Posts: 553
on: Jun 24, 2018
James Alwine financed a 7,800 fishing boat with a 10 add-on interest installment loan for 18 months. The loan required a 10 down payment. a. What was the amount of the finance charge? b. What is the amount of the finance charge rebate if the loan were to be paid after the 10th payment? (Round to the nearest cent)

Question 2

The process of moving all unknowns to one side of an equation and all knowns to the other side is called transposing.
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

blazinlyss

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 1,053.00
b. 221.68

Answer to Question 2

TRUE


Marty

  • Member
  • Posts: 553
Reply 2 on: Jun 24, 2018
Excellent

ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

A female gorilla exhibiting tool use by using a tree trunk as a support whilst fishing herbs. A female gorilla exhibiting tool use by using a tree trunk as a support whilst fishing herbs.
How to solve a linear algebraic bank interest problem with two unknowns How to solve a linear algebraic bank interest problem with two unknowns
How to calculate present value using the compound interest formula (Question 2) How to calculate present value using the compound interest formula (Question 2)
A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ... A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ...
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
Video: Summary of glucose catabolism

For a complete list of videos, visit our video library