« 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 38 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?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

The role of leptin in regulating appetite and metabolic rate. The role of leptin in regulating appetite and metabolic rate.
THE RATE OF PHOTOSYNTHESIS THE RATE OF PHOTOSYNTHESIS
The rate of global emissions is rising rapidly, especially in India and China The rate of global emissions is rising rapidly, especially in India and China
Total Fertility Rate in Japan: Actual versus Forecast Total Fertility Rate in Japan: Actual versus Forecast
A silver wire with a resistivity of 1.59E-8 Ωm has a radius of 14.1 mm. A silver wire with a resistivity of 1.59E-8 Ωm has a radius of 14.1 mm.
The decay rate of a radioactive sample decreases from 175 kBq to 12.4 kBq in 18.3 s. What is ... The decay rate of a radioactive sample decreases from 175 kBq to 12.4 kBq in 18.3 s. What is ...
Video: Digestive chemicals - water, gastric acid, bile & bicarbonate

For a complete list of videos, visit our video library