« previous next »

Author Question: A Silver Hummer H3 sells for 98,000 tax included. GMAC lends money at the rate of 6.9 APR. You are ... (Read 29 times)

AEWBW

  • Hero Member
  • *****
  • Posts: 579
on: Jul 10, 2018
A Silver Hummer H3 sells for 98,000 tax included. GMAC lends money at the rate of 6.9 APR. You are at the beginning of the fourth year of a seven year term. You are making monthly payments on the loan.
 
  How much interest do you pay in the first month of the fourth year of the loan?
  A) 354.70
  B) 359.81
  C) 395.62
  D) 371.08
  E) 362.44

Question 2

Determine the effective annualized cost of forgoing the trade discount on terms 1/20 net 45.
 
  A) 20.69 B) 16.780 C) 14.55 D) 15.24


dudman123

  • Sr. Member
  • ****
  • Posts: 304
Reply #1 on: Jul 10, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Tree species richness in North America is correlated with evapotranspiration rate. Tree species richness in North America is correlated with evapotranspiration rate.
Pacific Silver Fir cone debris from feeding Douglas Squirrels, North Cascades National Park Pacific Silver Fir cone debris from feeding Douglas Squirrels, North Cascades National Park
Acceptable ranges of respiratory rate Acceptable ranges of respiratory rate
Firing Rate of Individual SCN Neurons in a Tissue Culture Color bars have been added to emphasize th Firing Rate of Individual SCN Neurons in a Tissue Culture Color bars have been added to emphasize th
Rate of Residential Change, Past Year, in the United States Rate of Residential Change, Past Year, in the United States
Creede, Colorado, circa 1890, a rough silver mining town that grew from 660 people in 1889 to over 1 Creede, Colorado, circa 1890, a rough silver mining town that grew from 660 people in 1889 to over 1
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library