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

Author Question: John buys a car for $20 000 on Kia finance with a simple interest of 5.99%. After one month he pays ... (Read 161 times)

justinmsk

  • Hero Member
  • *****
  • Posts: 524
on: Jun 6, 2019

Question 1

If a 6 month term deposit at a bank pays a simple interest of 3%, how much will have to be deposited to earn $18 000?
◦ $600 000
◦ $270
◦ $540
◦ $1 200 000
◦ $120 000

Question 2

John buys a car for $20 000 on Kia finance with a simple interest of 5.99%. After one month he pays off the Kia finance using his secured line of credit which charges him 4% simple interest. He pays off the line of credit in 11 months. How much did he pay in total?
◦ $20 837
◦ $20 737
◦ $20 733
◦ $20 800
◦ $21 198
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 justinmsk on Jun 6, 2019

cam1229

  • Sr. Member
  • ****
  • Posts: 329
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 30% of students answer this correctly


justinmsk

  • Member
  • Posts: 524
Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

AmberC1996

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

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?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

The use of a simple dot matrix The use of a simple dot matrix
Thomas Hobbes, John Locke, John Rawls Thomas Hobbes, John Locke, John Rawls
John Tackett in spring of 2003 at age 15 John Tackett in spring of 2003 at age 15
You deposit $2000 each year into an account earning 4% interest compounded annually. How much ... You deposit $2000 each year into an account earning 4% interest compounded annually. How much ...
Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ... Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ...
John Summit & Hayla - Where You Are (Lyric Visualizer) John Summit & Hayla - Where You Are (Lyric Visualizer)
Video: Definition of heart rate

For a complete list of videos, visit our video library