Kate's Kitchen operates a production facility in Pubnico, Nova Scotia. When they first started the company...
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Kate's Kitchen operates a production facility in Pubnico, Nova Scotia. When they first started the company in 2005 they used credit cards for some of the startup costs. In total they charged $42,000 to the cards and did not make a single payment for 2 years. The interest rate on the cards was 24% APR compounded monthly. How much did they owe at the end of the 2 years? (4 points) Kate's Kitchen operates a production facility in Pubnico, Nova Scotia. When they first started the company in 2005 they used credit cards for some of the startup costs. In total they charged $42,000 to the cards and did not make a single payment for 2 years. The interest rate on the cards was 24% APR compounded monthly. How much did they owe at the end of the 2 years? (4 points)
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Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
Posted Date:
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