This topic contains a solution. Click here to go to the answer

Author Question: The Century Corporation has a 50,000 line of credit with Prime Bank. The annual percentage rate is ... (Read 128 times)

wenmo

  • Hero Member
  • *****
  • Posts: 540
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
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
Excellent


ricroger

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

For a complete list of videos, visit our video library