If you borrow $800 for 6 months at 6% annual simple interest, how much must you repay

Question:

If you borrow $800 for 6 months at 6% annual simple interest, how much must you repay at the end of the 6 months?

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: 9781337625340

12th Edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Oct 21, 2020 03:48 AM

See More Questions

If you borrow $800 for 6 months at 16% annual simple interest, how much must you repay at the end of the 6 months?
$20,000 is invested for 6 months at an annual simple interest rate of 2%. (a) How much interest will be earned? (b) What is the future value of the investment after 6 months?
Suppose you lent $5000 to friend 1 for 18 months at an annual simple interest rate of 9%. After 1 year you need money for an emergency and decide to sell the note to friend 2. (a) How much does...
A chemical processing plant has a network of pipes that are used to transfer liquid chemical products from one part of the plant to another. The following pipe network has pipe flow capacities in...
Air enters an evaporative cooler at 1 atm, 34oC and 20% relative humidity at a rate of 8 m3/min, and it leaves at 21oC. Determine (a) The the final relative humidity and (b) The amount of water added...
Why does Kipling portray the British and French trenches as the "frontiers of civilization"? What does this say about the German forces that are positioned on the other side of the trenches? In his...
Describe various defenses and remedies available for nonperformance of a contract.
A contractor is considering whether to purchase or lease a new machine for his layout site work. Purchasing a new machine will cost $12,000 with a salvage value of $1200 at the end of the machine's...
Pancake Village had sales of $1.5 million with depreciation of $350,000 and other operating costs that ran 35% of sales. They paid $180,000 in dividends with a tax rate of 40% and interest expense of...
Jason commenced with 135,000 cash. He acquired an established shop on 1 January 20X1. He agreed to pay 130,000 for the fixed and current assets and the goodwill. The replacement cost of the shop...
Find the future value of an ordinary annuity of $8000 paid quarterly for 3 years, if the interest rate is 8% compounded quarterly.
How much must you put aside at the beginning of each half-year if, in 6 years, you want to have $12,000 and the current interest rate is 6.2% compounded semiannually?
Wiley Company had total revenues of $360,000 for a recent month. During the month the company incurred operating expenses of $246,000 and purchased land for $66,000. Compute the amount of Wiley's net...
The team has been working hard throughput the sprint, but time is running out. It's Wednesday, the sprint review is scheduled for Friday, and it looks like the team won't be able to finish everything...
In the DAD framework, the Production Ready milestone demonstrates that the solution has met the stakeholders' conditions of acceptance, while the Stakeholder Delight milestone check to determine if...
A critical evaluation of business relationships and the ecosystem that is directly related to the operation of Black Prince Holidays including reference to the Canal Trust. This should be presented...
Economic and social conditions in which people live largely determine their overall health status. For this week's discussion, you will take a close look at social determinants of health and their...
Introduction: There are several ways to actually apply for a job. Sometimes the best way is by telephone. Other times it may be best to write a letter of application. Maybe it is best to visit the...
Renée operates Scandinavian Imports a furniture shop in Olney, Maryland. Scandinavian Imports ships goods to customers in all 50 states. Scandinavian Imports also appraises antique furniture....
Modify the CYK algorithm so that it applies to any CFG, not just those in CNF.
The sample size needed to estimate the difference between two population proportions to within a margin of error E with a confidence level of 1 - can be found by using the following expression:...
In the article On Judging the Significance of Differences by Examining the Overlap Between Confidence Intervals, by Schenker and Gentleman (American Statistician, Vol. 55, No. 3), the authors...
Two different simple random samples are drawn from two different populations. The first sample consists of 20 people with 10 having a common attribute. The second sample consists of 2000 people with...
how to connect to oracle database from cpp file step by step? I use Visual Studio and Oracle Instant Client. ? Explain your answer
How to determine the storage configuration for a database server for 1000+ staff? The server runs Linux and will have an Oracle database server. The estimated databases currently consume about 8 TB...
1. Explain on the financial statement analysis. 2. Explain on EIGHT (8) financial ratio. 3. Describe FIVE (5) types of financial objectives.

If you borrow $800 for 6 months at 6% annual simple interest, how much must you repay

Question:

Step by Step Answer:

P 800 t 12...View the full answer

Mathematical Applications For The Management, Life And Social Sciences

Students also viewed these Mathematics questions