Joaquin pawns his favorite watch for a loan of $120. After 30 days, he buys his watch
Fantastic news! We've Found the answer you've been seeking!
Question:
Joaquin pawns his favorite watch for a loan of $120. After 30 days, he buys his watch back for $140. What interest did the pawnbroker charge Joaquin?
Expert Answer:
Answer rating: 100% (QA)
To find the interest charged by the pawnbroker we need to calculate the differenc... View the full answer
Posted Date:
Students also viewed these finance questions
-
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
-
Jeffrey wants to take his mother out for dinner on her birthday, so he pawns his watch. The pawnbroker loans Jeffrey $75. Fourteen days later, Jeffrey gets his watch back by paying the pawnbroker...
-
5:42 5:42 54 ill 54 5:42 ill 54 acquired the Pittsburgh Penguins hockey Market Development team Unrelated Diversification Adding new, The security firm unrelated products ADT just acquired Sunpro...
-
1.What is the difference between Router and firewall 2.What is Packet filtering router 3.What is Stateful inspection firewall 4.What is Circuit level firewall 5.What is Application level firewall...
-
With reference to Exercise 3.26, find the distribution function of X and use it to reevaluate the two probabilities asked for in that exercise. In exercise -16x (1-x) for 0
-
Surkis Company acquires equipment at a cost of $42,000 on January 3, 2017. Management estimates the equipment will have a residual value of $6,000 at the end of its four-year useful life. Assume the...
-
In April 2000 the G4 !1 Group acknowledged that market exit value is generally regarded as the basis for fair value measurement of financial instruments and was discussing the use of the deprival...
-
At the beginning of the tax year, Lizzie holds a $10,000 stock basis as the sole shareholder of Spike, Inc., an S corporation. During the year, Spike reports the following. Determine Lizzies stock...
-
Explain the closing process in accounting. Questions to consider when answering this are: Why is it important to classify permanent and temporary accounts? How is the account Income Summary used...
-
reference question . Mcknight Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: Mcknight anticipates sel...
-
Few companies have fans who sleep outside their doors to be the first to purchase their newest products, but this is common at Apple, Inc. In 1997, Apple was on the brink of bankruptcy with a share...
-
8. Determine the value of n that makes the polynomial a perfect square of a binomial and identify the perfect square binomial. a) m - 8m+n 4 b) m+m+n
-
Maurice has invested $12,000 in a security that pays 4% interest compounded monthly. How much interest does he earn in the 4th year of the investment? In the 4th year, Maurice earns __________?
-
If concrete costs $102.00 per cubic yard, what is the costof the concrete material required for the new building additionslab on carton forms? You MUST round up to the nearest wholenumber.
-
On July 1, 2025, Green Company accepted a one-year, 10 % note for $6,000 in settlement of an overdue account receivable. The accounting period ends on December 31. What would be the journal entry to...
-
Trend by passing an ordinary resolution? Q6.8/p170: Hayato, Kirra and Jon are the directors of AK Pty Ltd. The shareholders of AK Pty Ltd are Hayato (200 shares) and Kirra (one share). Hayato wants...
-
What can scientists learn by comparing the fossilized skeletons of extinct primates with the bones of modern species?
-
Explain revenue management drivers in relation to Kimes and Chases four quadrants model.
-
Within an environment with which you are familiar (hospitality, tourism or events) analyse how revenue management could be applied.
-
Why does revenue maximisation not always lead to profit maximisation?
Study smarter with the SolutionInn App