A publicly traded construction company reported that it just paid off a loan that it received 1 year earlier. If the total amount of money the company paid was $1.6 million and the interest rate on the loan was 10% per year, how much money had the company borrowed 1 year ago?
What will be an ideal response?
P + P(0.10) = 1,600,000
1.1P = 1,600,000
P = $1,454,545
Trades & Technology
You might also like to view...
Ethanol is easily produced and ____________________ burning
Fill in the blank(s) with correct word
Trades & Technology
Which of the following can contribute to low production?
A) Parts department B) Customer C) Service advisor D) All of the above E) None of the above
Trades & Technology
Dimensioning to hidden features is a poor practice on a print.
Answer the following statement true (T) or false (F)
Trades & Technology
?What type of piping is recommended when combining a wood-fired boiler with an auxiliary boiler?
A. ?series B. ?parallel C. ?either series or parallel D. ?neither series or parallel
Trades & Technology