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

Author Question: The East Lake Karate Club arranged short-term financing of $41 500.00 on July 27 with the Bank of ... (Read 72 times)

student77

  • Hero Member
  • *****
  • Posts: 567
on: Jun 6, 2019

Question 1

Amertech borrowed $32 000.00 from Balzac Credit Union on May 17 at 12%. The interest rate was changed to 14.11% effective July 1 and to 13.27% effective October 1. The loan was repaid by payments of $17 000.000 on July 15 and the balance, including the accumulated interest, on November 20. How much did the loan cost?

Question 2

The East Lake Karate Club arranged short-term financing of $41 500.00 on July 27 with the Bank of Commerce and secured the loan with a demand note. The club repaid the loan by payments of $13 000.00 on September 25, $7500.00 on November 17, and the balance on December 20. Interest calculated on the daily balance and charged to the club's current account on the last day of each month, was at 8.5% per annum on July 27. The rate was changed to 8.75% effective September 1 and to 9.14% effective December 1. Determine the total interest cost.
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by student77 on Jun 6, 2019

juiceman1987

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


student77

  • Hero Member
  • *****
  • Posts: 567
Reply #2 on: Jun 6, 2019
Excellent


juiceman1987

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Jun 6, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

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?

Thyroid conditions may make getting pregnant impossible.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

The salt marsh at La Perouse Bay, east of Churchill, Manitoba. The salt marsh at La Perouse Bay, east of Churchill, Manitoba.
Bank teller assisting with customer service. Bank teller assisting with customer service.
Human Development (Full Term) Human Development (Full Term)
The two species of cichlids in Lake Apoyo exhibit distinctive morphologies The two species of cichlids in Lake Apoyo exhibit distinctive morphologies
The frequency distribution of the allele in Africa, Southern Europe, the Middle East The frequency distribution of the allele in Africa, Southern Europe, the Middle East
A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa
Video: Febrile Seizure

For a complete list of videos, visit our video library