A demand loan for $3343.99 with interest at 4.8% compounded quarterly is repaid after 6 years, 8

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

Question:

A demand loan for $3343.99 with interest at 4.8% compounded quarterly is repaid after 6 years, 8 months. What is the amount of interest paid?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

See More Books

Posted Date: Jun 24, 2022 06:04 AM

See More Questions

A loan of $16 000 with interest at 9% compounded quarterly is repaid in seven years by equal payments made at the end of each year. Find the size of the annual payments and construct an amortization...
A loan of $10 000 with interest at 6.72% compounded quarterly is repaid by payments of $950 made at the end of every six months. (a) How many payments will be required to amortize the loan? (b) If...
Jen and Berry's sells ice-creams from its factory-shop in Petone. There is a managing director (Maynard Dibble), a marketing manager (Mary Salman) and a production manager (Peter Pritchard). Maynard...
A vertical well is drilled through a stratigraphic section twice (repeated section). What type of fault can we infer, and why can we not explain this by folding?
Name three situations that might place a restriction on retained earnings, limiting or preventing dividend payments. Explain how the auditors might become aware of each such restricting factor.
During the 2016 presidential campaign, Hillary Clinton tweeted the following about background checks for gun ownership. It is an example of the wrong use of Venn diagrams and not using conditional...
Air flows in a horizontal 100-ft-long, 24-in. $\times 24$-in. duct at the rate of $5000 \mathrm{ft}^{3} / \mathrm{min}$. The air then flows through an expansion into $200 \mathrm{ft}$ of 36-in....
According to The Wall Street Journal, merger and acquisition activity in the first quarter rose to $5.3 billion. Approximately three-fourths of the 78 first-quarter deals occurred between information...
Using the pipework isometric drawing in Figure 6. list the number of welds of each type and size required; create a list of cut lengths for each pipe (neglect weld size and spacing); and . determine...
f(x) = 2x + 3 and g(x) = -3x + 2. For the above function, use base point x0 = 1.0 and x = 0.1 to compute f and g. Find (fg) (the change in the product) by computing f(x0 + x)g(x0 + x) - f(x0)g(x0)....
If the break-even-point (positive operational profitabiliy treshold) does not exist: a. it may mean that revenues are above costs for any level of production. b. All other answers are true. c. it may...
Two shafts are arranged parallel to each other at a distance of $8 \mathrm{~m}$. If the pulleys' diameters mounted on the shafts are of $600 \mathrm{~mm}$ and 1000 $\mathrm{mm}$. Find the ratio...
A leather belt of density $1000 \mathrm{~kg} / \mathrm{m}^{3}$, the thickness of $10 \mathrm{~mm}$ is used to transmit a power of 10 $\mathrm{kW}$ from a pulley of diameter $1.2 \mathrm{~m}$...
Find the expression for the length of belt in the cross belt drive.
An engine turning $250 \mathrm{rev} / \mathrm{min}$ drives a $40 \mathrm{~cm}$ diameter shaft with the help of belt drive system. If the diameter of engine pulleys is $60 \mathrm{~cm}$...
A flat belt is required to transmit $35 \mathrm{~kW}$ from a pulley of $1.5 \mathrm{~m}$ effective diameter running at 300 $\mathrm{rpm}$. The angle of contact is spread over 11/24 of the...
Business communication is a two-way street and requires an understanding of communication models to ensure smooth flow of business. There are a variety of communication models in business, some...
The first national bank pays a 4% interest rate compound continuously. The effective annual rate paid by the bank is __________. a. 4.16% b. 4.20% c. 4.08% d. 4.12%
Scott Butterfield is self-employed as a CPA. He uses the cash method of accounting, and his Social Security number is 644-47-7833. His principal business code is 541211. Scott's CPA practice is...
Bev and Ken Hair have been married for 3 years. They live at 3567 River Street, Springfield, MO 63126. Ken is a full-time student at Southwest Missouri State University (SMSU) and Bev works as an...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-7. Ivan sold the following securities during the year and received a Form 1099-B that...
Scores for the California Peace Officer Standards and Training test are normally distributed, with a mean of 50 and a standard deviation of 10. An agency will only hire applicants with scores in the...
1. Find the z-score that corresponds to a cumulative area of 0.3632. 2. Find the z-score that has 10.75% of the distributions area to its right.
Find the z-score that corresponds to each percentile. 1. P 5 2. P 50 3. P 90

A demand loan for $3343.99 with interest at 4.8% compounded quarterly is repaid after 6 years, 8

Question:

Expert Answer:

Question Amount principal 1rn principal 334399 Number of periods n6483242672667 Th... View the full answer

Income Tax Fundamentals 2013

Students also viewed these finance questions