If you borrow $1600 for 2 years at 14% annual simple interest, how much must you repay

Question:

If you borrow $1600 for 2 years at 14% annual simple interest, how much must you repay at the end of the 2 years?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Feb 09, 2018 05:30 AM

See More Questions

If $5000 is invested at 8% annual simple interest, how long does it take to be worth $9000?
If you borrow $800 for 6 months at 16% annual simple interest, how much must you repay at the end of the 6 months?
1. Suppose you borrow $2710 at 5% interest compounded quarterly. How much money should you pay back each quarter in order to pay back the loan in 3 years? 2. Loan Suppose you borrow $49,000 at 6.8%...
Find the derivative of the function. y = e 2x tan 2x
The maximum gauge pressure in a hydraulic lift is 17.0atm. What is the largest size vehicle (kg) it can lift if the diameter of the output line is 28.0cm?
In February 2015, Thomas acquired $150,000 worth of shares in a mutual fund established as a trust in his non-registered account. The net asset value per unit (NAV) was then $19 and the acquisition...
What lump-sum amount of interest will be paid on a $$10,000$ loan that was made on 1 June 2011 and repaid on 1 September 2015, with ordinary simple interest at 10% per year?
Vail Resorts, Inc., owns and operates five premier year-round ski resort properties (Vail Mountain, Beaver Creek Resort, Breckenridge Mountain, and Keystone Resort, all located in the Colorado Rocky...
Soarch Fila Home Insert Draw Design Transitions Animations Slide Show Record Review View Help Layout R New AAA E-E-3 JUS+AV Ax LA OOO\\ ALLOCG Record Share Shape F- Ind Stace Ouding Aange Cuck...
The diameter of a rivet (in mm) is a random variable with probability density function. a. What is the probability that the diameter is less than 12.5 mm? b. Find the mean diameter. c. Find the...
Find the requested value and tell what the other numbers represent. a. Find r: 250 = 1000(r)(4) b. Find t: 1500 = 5000(0.05)(t) c. Find P: 9600 = P + P(0.05)(4) d. Find P: 11,800 = P + P(0.03)(6)
If you lend $3500 to a friend for 15 months at 8% annual simple interest, find the future value of the loan.
For the given probability density function Find: a. The value of k b. P(X < 3) c. P(X < 4.5) (k(6x x) 0 < x < 3 f(x) = { 9k(5 x) 3 < x < 5, otherwise
List 3 characteristics of good information. (ii) -4 Marks Briefly explain the difference between structured decision and unstructured decision with example for both. (iii) -3 Marks What is the...
It has been said that " the things we own come to own us". What are your thoughts on this statement? Discuss.
Roundworm Ltd is a group of companies with a 31 December year-end. The Roundworm group financial statements for the years 20.21 and 20.22 are given below: Roundworm Group Ltd Consolidated statement...
On January 1, 20X1, Amber Products Corporation sold land costing $200,000 to its subsidiary, Jerry Interiors Corporation, for $240,000. Jerry still held the land at the end of 20X2. Jerry sold the...
Accounting Inc. has ordered imports from Uruguay, and its imports are invoiced in Uruguayan pesos. The dollar value of the payables (based on today's exchange rate) from its imports during this year...
Simplify the expression -7(x - 4y). Let List all the elements of A that belong to each set. Real numbers V12}. A = {-6, -4, -, - V3, 0, 4, 1, 2, 3, V12
Suppose that a business sells 6-month subscriptions to its monthly magazine. On January 1, the company receives a total of $600 for 10 subscriptions. To record this transaction, the company debits...
Assuming that the power rule is true for n, find d(xn+1)/dx using the product rule, and check that it too satisfies the power rule. For positive integer powers, it is possible to derive the power...
The population P is P(t) = 2.0 106 + 2.0 104t and the weight per person W(t) is W(t) = 80 - 0.5t The total mass of a population is the product of the number of individuals and the mass of each...
The population P is P(t) = 2.0 106 - 2.0 104t and the weight per person W(t) is W(t) = 80 + 0.5t. The total mass of a population is the product of the number of individuals and the mass of each...
Michelle is a 47-year old woman who has not been to see any healthcare provider since the birth of her third child 6 years ago. She is considering making an appointment to discuss medical options for...
The starting salaries of recent graduates and their majors in college were surveyed. Specifically, 300 graduates were included in the survey. You conduct a test to determine whether majors and...
Differentiate and describe the different types of budgets commonly used by the healthcare facilities ( be sure to label the responses with appropriate numbers) compare incremental budgeting and zero...

If you borrow $1600 for 2 years at 14% annual simple interest, how much must you repay

Question:

Step by Step Answer:

I 1600 ...View the full answer

Mathematical Applications for the Management Life and Social Sciences

Students also viewed these Calculus questions