Question: A book store owner would like to borrow $8000 from a bank to increase her stock. The bank will give the owner a discounted loan

A book store owner would like to borrow $8000 from a bank to increase her stock. The bank will give the owner a discounted loan for 4 months at a simple discount interest rate of 10%. How much will the owner owe in 4 months time? Answer: $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Assuming that PayNet acquires 70% of Shale on August 1, 2022, for cash of $196,000, what amount would appear in the non-controlling interest (NCI) account on the consolidated balance sheet on the...

Q:

A debt of $8750 is due in 12 months with interest at 7.75%. Partial payments of $1294 and $423 are made in 3 and 8 months respectively. What is the balance due on the final statement date by the...

Q:

A toy store owner would like to borrow $9000 from a bank to increase her stock. The bank will give the owner a discounted loan for 4 months at a simple discount rate of 14%. What should be the value...

Q:

A toy store owner would like to borrow $9000 from a bank to increase her stock. The bank will give the owner a discounted loan for 4 months at a simple discount rate of 14%. What should be the value...

Q:

A toy store owner would like to borrow $24000 from a bank to increase her stock. The bank will give the owner a discounted loan for 4 months at a simple discount rate of 11%. What should be the value...

Q:

A toy store owner would like to borrow $ 1 4 0 0 0 from a bank to increase her stock. The bank will give the owner a discounted loan for 3 months at a simple discount interest rate of 1 2 % . How...

Q:

A toy store owner would like to borrow $ 2 1 0 0 0 from a bank to increase her stock. The bank will give the owner a discounted loan for 9 months at a simple discount interest rate of 1 1 % . How...

Q:

A toy store owner would like to borrow $ 1 4 0 0 0 from a bank to increase her stock. The bank will give the owner a discounted loan for 3 months at a simple discount interest rate of 1 2 % . How...

Q:

A toy store owner would like to borrow $ 1 4 0 0 0 from a bank to increase her stock. The bank will give the owner a discounted loan for 3 months at a simple discount interest rate of 1 2 % . How...

Q:

A toy store owner would like to borrow $ 1 3 0 0 0 from a bank to increase her stock. The bank will give the owner a discounted loan for 8 months at a simple discount interest rate of 1 2 % . How...

Q:

A toy store owner would like to borrow $ 5 0 0 0 from a bank to increase her stock. The bank will give the owner a discounted loan for 6 months at a simple discount interest rate of 9 % . How much...

Q:

Question 15 4 pts nts ?? In 2020, Margie walked into Baby's Toy store and purchased a baby toy for $25. That $25 payment counted as expenditure for Margie and income for Baby's Toy. What amount is...

Q:

On testing Ho: p = 14, H1: 4, = 0.05 level t-test is being considered. What sample size is necessary in order that the probability is 0.1 of falsely failing to reject Ho when the true population...

Q:

Scenario Summary It is now October 22 and the project has been moving along mostly as expected. The wall prep has been completed, the new wall graphics have been printed, and the sharing board is...

Q:

The Whitworth quick return motion mechanism has the driving crank AC=150 mm long. The distance between fixed centres CD= 100 mm. The line of stroke of the ram passes through the centre of rotation of...

Q:

Find the strongest topology in constantly performs i Y that function X = {a,a+1, a + 2, a + 3}, T = {0, X, {a, a+1}, {a+2, a +3}}, Y = {a - 3, a 2, a 1} f(a) = f(a+ 1) = a 3, f(a + 2) = a 2, f(a...

Q:

are goals and incentives set to promote a desired behavior, but instead encourage a negative one.Multiple ChoiceOvervaluing outcomesIll - conceived goalsIndirect blindnessMotivated blindnessThe...

Q:

Recount the fundamental assumptions of the muted group theory

Q:

Compare and contrast monochronic and polychronic time orientations

Q:

Compare and contrast cultural preferences for privacy