Question 2 (multiple choice)
Brad Clark took out a simple interest loan at 13% interest for 12 months. His previous balance is $619. What is the final payment if the loan is paid off with the next payment?
(Hint: First find the monthly interest rate and multiply it by the previous balance. This gives you the final interest charge. Then, add the interest to the remaining balance.)
A. $625.71
B. $621.00
C. $675.09
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Question 2 (multiple choice) Brad Clark took out a simple interest loan at 13% interest for 12 months. His previous balance is $619. What ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Shoppers at supermarkets often abandon their empty shopping carts at various locations in the parking lot, despite the risk of damage to vehicles or the additional labor cost of retrieving those carts. How might an economist explain this behavior? a.
Answers (1)
Which of the following is a difference between a push strategy and a pull strategy?
Answers (1)
What causes changes from one phase of the business cycle to another?
Answers (1)
The advanced industrial nations of the West committed themselves after World War II to removing barriers to the free flow of goods, services, and capital between nations. This goal was enshrined in the:
Answers (1)
Ryan miller would like to buy a condo in florida in six years. he is looking to invest $78,000 today in a stock that is expected to earn a return of 13.7 percent annually. how much will he have at the end of six years?
Answers (1)
New Questions in Business
Johnny is organizing all the specifics for his parents' 50th anniversary party. He has made contact with all the vendors, secured the location, and created a weather contingency plan. Johnny is participating in: answer choices planning management.
Answers (1)
A house is closed on April 15. The property taxes are $960 for the year. They have not been paid. How much does the buyer receive from the seller at closing
Answers (1)
Groupthink is defined as A. "a mode of thinking that people engage in when they are deeply involved in a cohesive in-group, when members' striving for unanimity override their motivation to realistically appraise alternative courses of action." B.
Answers (1)
Carver Packing Company reports total contribution margin of $72,000 and pretax net income of $24,000 for the current month. In the next month, the company expects sales volume to increase by 8%.
Answers (1)
John deposited $2,000, at the end of every month for 2 years in a savings account. if the account paid 6% interest, compounded monthly, use table 12-1 from your text to find the future value of his account.
Answers (1)