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

Author Question: The Century Corporation has a 50,000 line of credit with Prime Bank. The annual percentage rate is ... (Read 171 times)

wenmo

  • Hero Member
  • *****
  • Posts: 540
on: Jun 24, 2018
The Century Corporation has a 50,000 line of credit with Prime Bank. The annual percentage rate is the current prime plus 4.3 based on the average daily balance. The balance of the account on September 1 was 18,200. On September 12 Century borrowed 10,000 to pay for a shipment of merchandise, and on September 18 they borrowed another 5,200 for equipment rental. On September 25 a 20,000 payment was made on the account. The current prime rate is 6 1/2. a. What is the finance charge on the account? b. What is Century's new balance?

Question 2

Kate and Allie sell stereos. Last month Kate sold 14 more stereos than Allie. Together they sold 92. How many stereos did Allie sell?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Chou

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 205.08
b. 13,605.08

Answer to Question 2

39 stereos


wenmo

  • Member
  • Posts: 540
Reply 2 on: Jun 24, 2018
Gracias!

yeungji

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

A Double-Line Spectroscopic Binary A Double-Line Spectroscopic Binary
Bank reconciliation form. Bank reconciliation form.
Operation of a typical pulse generator (pickup coil). At the bottom is a line drawing of a typical ... Operation of a typical pulse generator (pickup coil). At the bottom is a line drawing of a typical ...
Risk & Aseptic Processing - RABs Filling Line Risk & Aseptic Processing - RABs Filling Line
Number line (5 - 1) Number line (5 - 1)
Video: Cardiac Cycle (Part 4 of 4)

For a complete list of videos, visit our video library