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

Author Question: South Penn Tracking is financing a new truck with a loan of 10,000 to be repaid in 5 annual ... (Read 34 times)

kshipps

  • Hero Member
  • *****
  • Posts: 571
on: Jul 10, 2018
South Penn Tracking is financing a new truck with a loan of 10,000 to be repaid in 5 annual end-of-year installments of 2,504.56. What annual interest rate is the company paying?
 
  A) 7
  B) 8
  C) 9
  D) 10
  E) 11

Question 2

Approximately how much must Tiffany invest today to accumulate 10,000 in ten years if she can earn 10 compounded annually? (Round to the nearest whole dollar)
 
  A) 4,225
  B) 3,753
  C) 5,349
  D) 3,855
  E) 2,973


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

helenmarkerine

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jul 10, 2018
Answer to Question 1

B

Answer to Question 2

D


kshipps

  • Member
  • Posts: 571
Reply 2 on: Jul 10, 2018
Excellent

aliotak

  • Member
  • Posts: 326
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

fire truck fire truck
Tracking Infection Tracking Infection
South African cave sites. South African cave sites.
The annual pattern of rings changes with ocean temperature and coral health The annual pattern of rings changes with ocean temperature and coral health
Jane was due to make loan payments of S1872 nine months ago, S3074 five month ago, and S498 in ... Jane was due to make loan payments of S1872 nine months ago, S3074 five month ago, and S498 in ...
Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ... Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ...
Video: Baroreceptor Reflex

For a complete list of videos, visit our video library