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

Author Question: Johnston Bros. purchased a new 11,850 freezer for their seafood shop with a 36-month installment ... (Read 22 times)

lidoalex

  • Hero Member
  • *****
  • Posts: 538
on: Jun 24, 2018
Johnston Bros. purchased a new 11,850 freezer for their seafood shop with a 36-month installment loan. The monthly payments are 417.67 per month. a. Use the APR formula to calculate the annual percentage rate of the loan. (Round to the nearest hundredth of a percent) b. Use the APR Table 13-1 from your text to calculate the annual percentage rate of the loan.

Question 2

An estate valued at 510,000 is to be distributed among the wife, 2 children, and 3 grandchildren. The children will each receive two times as much as each grandchild, and the wife will receive five times as much as each child. How much will each person receive? a. Wife _______________ b. Child _______________ c. Grandchild __________
 Fill in the blank(s) with correct word


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahchrapun

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 16.08
b. 16.25

Answer to Question 2

a. Wife  300,000
b. Child  60,000
c. Grandchild  30,000


lidoalex

  • Member
  • Posts: 538
Reply 2 on: Jun 24, 2018
Excellent

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Chinese workers on a railway in the far West. “Without them,” Leland Stanford, president of the Cent Chinese workers on a railway in the far West. “Without them,” Leland Stanford, president of the Cent
Poverty comes in many forms. Families who go into debt to buy possessions squeak by month after ... Poverty comes in many forms. Families who go into debt to buy possessions squeak by month after ...
6 month old baby in highchair eating 6 month old baby in highchair eating
At 19 months, Merr would clearly pass the 17-month item on the Bayley Scales At 19 months, Merr would clearly pass the 17-month item on the Bayley Scales
An antique painting is purchased in 1980 for $995. The value increases by 3.1% e An antique painting is purchased in 1980 for $995. The value increases by 3.1% e
Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased ... Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased ...
Video: Hormonal regulation of pregnancy - weeks 2 through 38

For a complete list of videos, visit our video library