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

Author Question: Malika borrowed 12,900 at an ordinary simple interest rate of 9 for 120 days. If she took the loan ... (Read 247 times)

jjjetplane

  • Hero Member
  • *****
  • Posts: 556
on: Jun 24, 2018
Malika borrowed 12,900 at an ordinary simple interest rate of 9 for 120 days. If she took the loan out on June 2, what is the due date? Assume a nonleap year.
 A) October 2
  B) September 30
  C) September 1
  D) August 31

Question 2

The face value on a loan is 8,000, the interest is 10, and the time is 5 months based on a 360-day year. The bank discounted the note at 12 two months before the maturity of the loan. What is the bank discount?
 A) 686.67
  B) 333.33
  C) 267.14
  D) 166.67


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SVictor

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jun 24, 2018
Answer to Question 1

B

Answer to Question 2

D


jjjetplane

  • Member
  • Posts: 556
Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

bitingbit

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

For this bimolecular reaction, the rate constant k is second order For this bimolecular reaction, the rate constant k is second order
Oldowan tools are simple flake tools struck from a core. Oldowan tools are simple flake tools struck from a core.
Top Ten States Ranked by Rate or Reported Bacterial STI Cases in 2011 Top Ten States Ranked by Rate or Reported Bacterial STI Cases in 2011
How to solve rate problems leading to fractional equations (Question 1) How to solve rate problems leading to fractional equations (Question 1)
A bus starts from restat a station and accelerates at a rate of 2 m/s^2 for 15 seconds. It then runs A bus starts from restat a station and accelerates at a rate of 2 m/s^2 for 15 seconds. It then runs
Days 18–23 Bumps of mesoderm (somites) form. They will develop into the dermis and most of the ... Days 18–23 Bumps of mesoderm (somites) form. They will develop into the dermis and most of the ...
Video: Wound Care

For a complete list of videos, visit our video library