My uncle borrowed 5,000 bolivars (B5,00) from his brother in Caracas, Venezuela. He promised to repay the

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

Question:

My uncle borrowed 5,000 bolivars (B5,00) from his brother in Caracas, Venezuela. He promised to repay the loan in two annual installments of B3,000 each.

What rate of interest is he paying his brother?

Related Book For answer-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

See More Books

Posted Date: Jul 03, 2023 03:12 AM

See More Questions

a. You borrowed $13,000 from a friend and promised to repay the loan in ten equal annual installments. Installments begin at the end of the first year. What are the annual payments required to pay...
John Doeber borrowed $150,000 to buy a house. His loan cost was 6% and he promised to repay the loan in 10 equal annual payments. What is the principal outstanding after the first loan payment?...
Answer the following independent questions: a. You borrowed $ 15,000 from a friend and promised to repay the loan in seven equal annual installments. Installments begin at the end of the first year....
Strike Bowling installs automatic scorekeeping equipment with an invoice cost of $180,000. The electrical work required for the installation costs $8,000. Additional costs are $3,000 for delivery and...
A uniform cord of length 25 cm and mass 15 g is initially stuck to a ceiling. Later, it hangs vertically from the ceiling with only one end still stuck. What is the change in the gravitational...
Your company has just written one million units of a one-year European asset-or-nothing put option on an equity index fund. The equity index fund is currently trading at 1000. It pays dividends...
While the electromagnetic interaction between the photons and the charged electrons and positrons kept them in equilibrium with each other during the early universe, show that the direct...
Recording Transactions (Including Adjusting and Closing Entries), Preparing a Complete Set of Financial Statements, and Performing Ratio Analysis Josh and Kelly McKay began operations of their...
The accompanying data represent the approximate population, in millions, of the 20 most populous cities in the world. 13.5 11.7 10.4 8.4 7.8 13.3 11.6 9.4 8.4 7.7 12.7 11.5 9.3 8.2 7.4 12.3 11.3 8.7...
An investor, wants to know how two portfolios are performing in the market: 7% Y (3%) 12% Probability Market portfolio 0.40 0.20 15% 0.40 Beta factor 10% 18% Portfolio X 1.30 10% 8% 4% 0.75 1 The...
Write a Python program that prompts the user to enter an integer number and store the numbers the user enters in a list. You will stop reading from the user when he/she enters done. Then use the...
How do companies go about developing and managing culture?
What is the outcome of combining Mintzbergs five coordinating mechanisms with dimensions of structure?
Examine the role of size as a determinant of organization structure.
Comment on the benefts associated with team systems of working.
Define organizational development.
Sui Generis, Inc. (SGI), designs and sells solar energy cells to research laboratories, commercial businesses, and individual consumers. Later, without SGI's permission, Mimic Company begins to sell...
A statistical study shows that the fraction of television sets of a certain brand that are still in service after x years is given by f (x) = e-0.15x. (a) What fraction of the sets are still in...
A route salesperson for Ideal Milk Company delivered a onehalf- gallon glass jug of milk to Allens home. The next day, when Allen grasped the milk container by its neck to take it out of his...
In 2003, 118 New Haven firefighters took examinations to qualify for promotion to the rank of lieutenant or captain. Promotion examinations in New Haven (or City) were infrequent, so the stakes were...
Hazelwood School District, located in Sleepy Hollow Township, is being sued by several teachers who applied for teaching positions within the school district but were rejected. The plaintiffs, who...
Last year, Miley decided to terminate the S corporation election of her solely owned corporation on October 17, 2018 (effective immediately), in preparation for taking it public. At the time of the...
You have been assigned to compute the income tax provision for Motown Memories Inc. (MM) as of December 31, 2019. The companys income statement for 2019 is provided below: MM prepared the following...
Jane has been operating Mansfield Park as a C corporation and decides she would like to make an S election. What is the earliest the election will become effective under each of these alternative...

My uncle borrowed 5,000 bolivars (B5,00) from his brother in Caracas, Venezuela. He promised to repay the

Question:

Expert Answer:

To calculate the rate of interest that your uncle is paying his brother we can use the formula for c... View the full answer

Smith and Roberson Business Law

Students also viewed these finance questions