Louis Carroll visits his local bank to see how long it will take for $1,000 to amount to $1,900 at a simple interest rate of 12 1/2%. A. How long will it take in years? B. How long will it take in months?
What will be an ideal response?
A. 7.2 years; B. 86.4 months
A. Interest = 1,900 - 1,000 = 900; Time = 900 / (1,000 × .125) = 7.2 years; B. 7.2 × 12 = 86.4 months
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The journal entry for the receipt of a cash payment on common stock subscriptions would include
a. debiting Cash and crediting Common Stock Subscriptions Receivable; b. debiting Cash and crediting Common Stock Subscribed; c. debiting Common Stock and crediting Common Stock Subscriptions Receivable; d. debiting Common Stock Subscriptions Receivable and crediting Common Stock; e. debiting Common Stock and crediting Cash.
Which of the following is not an example of a vocal filler?
a. umm b. like c. furthermore d. and
Why might a company be interested in using sustainability metrics?
What will be an ideal response?
On January 2, 20x5, Clair Inc signed a 9% mortgage payable for $200,000 with equal monthly payments of $2,400. When Clair makes the first payment, how much interest expense will be recorded?
A) $0 B) $1,500. C) $18,000. D) $750.