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 132 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
Wow, this really help

Mochi

  • Member
  • Posts: 300
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

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?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Scaling the Earth down to the size of a basketball, the Moon is roughly the size of a tennis ball. T Scaling the Earth down to the size of a basketball, the Moon is roughly the size of a tennis ball. T
First Line Antitubercular Drugs First Line Antitubercular Drugs
Reconstruction Drawing Of Babylon in the 6th Century BCe Reconstruction Drawing Of Babylon in the 6th Century BCe
Relationship between Income Inequality and the Desired Tax Rate Relationship between Income Inequality and the Desired Tax Rate
Nuchal Line Nuchal Line
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
Video: Gastrin (protein digestion)

For a complete list of videos, visit our video library