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 175 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?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Merops orientalis -at Ameenpur lake hyderabad India. Merops orientalis -at Ameenpur lake hyderabad India.
This is not a lake This is not a lake
In the heat of the Battle of Lake Erie, Perry had to abandon his flagship, the Lawrence, which had b In the heat of the Battle of Lake Erie, Perry had to abandon his flagship, the Lawrence, which had b
A Radio Telescope in Green Bank, West Virginia A Radio Telescope in Green Bank, West Virginia
No payments were made on a $2,598 loan during its three-year term. What was the annually ... No payments were made on a $2,598 loan during its three-year term. What was the annually ...
Video: Chronology of leptin research (A history of leptin research)

For a complete list of videos, visit our video library