Dave borrowed $500 on January 1, 2017, and paid it all back at once on December 31,
Question:
Dave borrowed $500 on January 1, 2017, and paid it all back at once on December 31, 2017. What was the APR?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (7 reviews)
55 ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Personal Finance
ISBN: 978-1259720680
12th edition
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
Calculating the Annual Percentage Rate. Dave borrowed $500 on January 1, 2006, and paid it all back at once on December 31, 2006. What was the APR? (Reminder: Dave borrowed $500 for 1 year and paid...
-
In problem 5, Joshua borrowed $500 on January 1, 2012, and paid it all back at once on December 31, 2012. What was the APR?
-
On January 1, 2017, Blair Corporation purchased for $500,000 a tract of land (site number 101) with a building. Blair paid a real estate broker's commission of $36,000, legal fees of $6,000, and...
-
The following table describes a randomized trial comparing an experimental medication to a placebo for treatment of reflux. Experimental Treatment Placebo (n = 100) Patient Characteristics (n = 100)...
-
Determine if the equation represents y as a function of x. 1. y = 3x3 2. y = 6x2 3. y2 = 3x 4. y2 = 10x2
-
Identify the reagents a?c in the following scheme: CH C -CH CH H -CH H.
-
Calculate the volatility and the current price of oil futures implied by the call 1600 August and the call 1700 August of Figure 19.8 by using the Black-Scholes formula with \(T=.25\). OIL CRUDE OIL...
-
Assume all of the companys sales are on account. The accounts receivable balance at the beginning of the year was $512, and the ending balance was $481. During the year, the company had sales of...
-
You want to begin saving for your daughter to go to graduate school at Oklahoma starting 10 years from now. You expect that you will need to make tuition payments of $3.000 per month for the two...
-
As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions: a. Debit Equipment and credit Cash. b....
-
Dave borrowed $500 for one year and paid $50 in interest. The bank charged hi ma $5 service charge. What is the finance charge on this loan
-
What would be the total vehicle cost in each of these situations? Vehicle 1: A down payment of $3,500 with 48 monthly payments of $312. Vehicle 2: A down payment of $2,700 with 60 monthly payments of...
-
Given that a randomly selected individual is a Democrat, find the probability that he or she opposes oil drilling in national parks. Suppose the table summarizes the opinions of various groups on the...
-
A mass m is held by two perpendicular identical springs in space in the x-y plane and is dropped from a height zo under the influence of gravity (let's call this the "dropped 2D harmonic...
-
Apply data structures to store and process information, and write Python code for each task. Question 2a staffSalaryList is a list of elements where each element is a list of two elements - staff...
-
Apply data structures to store and process information, and solve computational problems using structured programming. The rates (in cents) for sewing alphabets onto clothing are shown in Figure...
-
An investor has put together a portfolio of one long call and one short put written on the stock S, both with strikes X = 900 and maturity T. Please sketch the payoff from the portfolio on the below...
-
This question required Android Programming Concepts. (a) According to Google, when designing Android apps, for performance there are several practices that should be used. List four of these...
-
State the interval-algebra relation that holds between every pair of the following real world events: LK: The life of President Kennedy. IK: The infancy of President Kennedy. PK: The presidency of...
-
Juarez worked for Westarz Homes at construction sites for five years. Bever was a superintendent at construction sites, supervising subcontractors and moving trash from sites to landfills. He...
-
1. Congress reduced taxes on middle- and low-income taxpayers with the expectation that they will spend most of that money and help create more economic growth. Was this idea good or not, and why? 2....
-
1. Calculate Tax Liability. What would be the tax liability for a single taxpayer who has a gross income of $39,700? 2. Marginal Tax Rate. What would be the marginal tax rate for a single person who...
-
(a) What is the Johnsons reportable gross income on their joint tax return? (b) What is their adjusted gross income? (c) What is the total value of their exemptions? (d) How much is the standard...
-
Recommend an optimal improvement to the company's future financial goals.
-
Your bank account pays a nominal interest rate of 1 1 % , compounded semi - annually. Your plan is to deposit $ 2 , 4 0 0 in the account at the end of each of the next 1 0 years. How much will you...
-
A partnership has total equity of $464,000. Partnership equity consists of Green, Capital, $324,000, and Tan, Capital, $140,000. Net income and loss is shared in a ratio of 85% to Green and 15% to...
Study smarter with the SolutionInn App