Franklin Woo loaned money to his daughter, LeAnn, to help her purchase a car. The loan was for two years at 3.5% exact simple interest (365-day year). When LeAnn repaid the loan after two years, the interest amounted to $385 . Compute the amount that Franklin had originally loaned to her
P = I ÷ (RT) = $385 ÷ (0.035 × 2) = $5,500
You might also like to view...
Which negotiation mode do salespeople who are both assertive and cooperative and who attempt to seek the satisfaction of both parties use?
What will be an ideal response?
Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?
A. The Post-it Flag Highlighter was not successful and was deleted from the Post-it Flag product line. B. In his first attempt, David Windorski, a 3M inventor, designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market. C. David Windorski, a 3M inventor, also developed the Post-it Flag Pen for the office worker segment. D. Paralegals were initially the intended target market for the Post-it Flag Highlighter. E. In development of the Post-it Flag Highlighter, David Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "WOW" factor.
Which of the following acts exempts all documents given to the Securities and Exchange Commission by foreign regulators from Freedom of Information Act disclosure requirements?
A) the Market Reform Act of 1990 B) the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 C) the Foreign Corrupt Practices Act of 1977 D) the International Securities Enforcement Cooperation Act of 1990
Which of the following statements is true of the Equal Employment Opportunity Commission (EEOC)?
A. It is a division of the Department of Labor. B. It oversees and enforces the regulations of the Vocational Rehabilitation Act of 1973. C. It is responsible for enforcing the Americans with Disabilities Act of 1990. D. It establishes a minimum hourly wage for different types of jobs.