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
You might also like to view...
What does the acronym EST represent in the truck service industry?
A. electronic service tool B. electronic sensor test C. electrical sender terminal D. electrical speed transducer
Mechanically held relays and contactors are often used because _____.
a. they have fewer coils than electrically held devices b. they have more coils than electrically held devices c. they are quieter than electrically held devices d. they are more reliable than electrically held devices
What are the job requirements for the various animal-care careers?
What will be an ideal response?
Limit switches are used to detect when an object is present or absent from a particular location.
Answer the following statement true (T) or false (F)