Question: If the maturity value on a B-week simple interest loan is $17,798 and the daily simple interest rate is 0.2%, how much was borrowed? Round

If the maturity value on a B-week simple interest loan is $17,798 and the daily simple interest rate is 0.2%, how much was borrowed? Round your answer to the nearest dollar

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!

If the maturity value on a 8-week simple interest loan is $17.798 and the daily simple interest rate is 0.2%, how much was borrowed? Round your answer to the nearest dollar

If the maturity value on a 5- week simple interest loan is $11,077 and the daily simple interest rate is 0.2%, how much was borrowed? Round your answer to the nearest dollar.

If the maturity value on a 8-week simple interest loan is $14,023 and the daily simple interest rate is 0.2%, how much was borrowed?

1-Find the maturity value of a loan of $2,300.00 after three years. The loan carries a simple interest rate of 7.7% per year. The maturity value of a loan is $---- 2-A man needed money for college....

UNIT 5 QZ, Q-20 UNIT 5 / UNIT 8 QUESTIONS KEEP ANSWERS SEPARATE BY UNITS UNIT II STUDY GUIDE Consumer Mathematics Reading Assignment See information below. Key Terms 1. Add-on interest method 2....

Each Question is worth 5 points. The total score that you can receive is 50 points. Please show all work and formu 1) ABCD Company borrowed $1,200 on a 90-day, 11 % note . After 15 days, ABCD paid...

1 Calculate the finance charge for a credit card that has the given average daily balance and interest rate. (Round your answer to the nearest cent.)Average daily balance: $116.72; monthly interest...

3 This assignment covers material from Units 8 to 9 in the Mathematics 244 Study Guide. It is due after Unit 9 in the Study Guide is completed. Total Marks = 100 Business Mathematics 1. What is the...

6:51 Done Module 2_3 Formula Sheet 6:50 Done Amortization Worksheet 2 - 1 - HE 2 - FH - --- 6:55 Done M2-3 Finance, Credit Cards, and... WSS Credit Cards You have a credit card with a current balance...

Mini-Case B (7 marks) Like every Canadian couple, Amira and Owen carry quite a lot of debt. Three years ago, Amira purchased a Subaru Outback costing $34,750 before sales tax of 15%, with a $5,000...

The Bar-None Manufacturing Co. manufactures fence panels used in cattle feed lots throughout the Midwest. Bar-Nones management is considering three investment projects for next year but doesnt want...

Consider another widely diversified portfolio, N, with factor loadings b N1 = 0.4, b N2 = 1.2. Replicate N by a portfolio mix of L, M and G. What is the equilibrium mean rate of return of portfolio N?

8. Fig. 1E.23 shows a stationary weight of 25 N was pushed off a shelf 4 m from the ground. Assuming no work was done against friction as the weight fell through the air, what was the velocity of the...

4. In the barbershop examp customer () le, the code for the customer, barber and cashier are as follows barber () while (true) wait (max_capacity); enter shop ); wait (sofa) sit on sofa ); wait...