Question: The simple interest rate being charged on a $10000 is 0.5% per month. What is the total amount paid, if the entire loan is paid

The simple interest rate being charged on a $10000 is 0.5% per month. What is the total amount paid, if the entire loan is paid in 9 months?

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 Law Questions!

Q:

A: Suppose a firm employs labor and capital k to produce output x using a homothetic, decreasing returns to scale technology. (a) Suppose that, at the current wage w, rental rate r and output price...

Q:

You will be given a set of transactions for a company, Alberts Auto Parts from January 1, 2018 through December 31, 2018. Please do all work in Microsoft Excel (or equivalent). Project Part 1 This...

Q:

You are responsible for preparing a cash budget for Country Quilts and have collected the following details: The cash balance on September 1 is $ 5 6 , 6 0 0 Actual sales for July and August and...

Q:

You are responsible for preparing a cash budget for Country Quilts and have collected the following details: The cash balance on September 1 is $ 4 1 , 6 0 0 Actual sales for July and August and...

Q:

You are responsible for preparing a cash budget for Country Quilts and have collected the following details: The cash balance on September 1 is $ 4 1 , 6 0 0 Actual sales for July and August and...

Q:

You are responsible for preparing a cash budget for Country Quilts and have collected the following details: The cash balance on September 1 is $ 4 6 , 0 0 0 Actual sales for July and August and...

Q:

You are responsible for preparing a cash budget for Country Quilts and have collected the following detalls: a . The cash balance on September 1 is $ 4 6 , 0 0 0 b . Actual sales for July and August...

Q:

COMP 2710: Project 1 Points Possible: 100 Deadline: 11:59pm CST Friday January 29th 2021 Note: You do not need to submit hard copies. Goals: To learn how to implement the concept of "Flow of Control"...

Q:

Hi, Please use cout instead of printf() for the output, and I have attached a starter code that should help with the desired output. COMP 2710: Project 1 Points Possible: 100 Deadline: 11:59pm CST...

Q:

COMP 2710: Project 1 Points Possible: 100 Deadline: 11:59pm CST Friday January 29th 2021 Note: You do not need to submit hard copies. Goals: To learn how to implement the concept of "Flow of Control"...

Q:

Please looking for a simple C++ CODE A You have just purchased a stereo system that cost $1,000 on the following credit plan: no down payment, an interest rate of 18% per year (and hence 1.5% per...

Q:

Omega Refinery has the option of selling all four products at the split off point. This alternative would yield the following sales for October 2020 production. The following data relates to sales of...

Q:

Given P (A) = .70, P (B) = .30, and P (A B) 5 .00, find (a) P(A B) and (b) P(A | B). (c) Sketch a Venn diagram.

Q:

4 of 2 0 Find the second derivative. y = 6 x 3 - 8 x 2 5 e x A . 2 4 x - 1 6 - 5 e x B . 1 6 x - 3 6 5 e x C . 3 6 x - 1 6 5 e x D . 1 6 x - 2 4 - 5 e x

Q:

3. Calculate the mole fraction of benzene in solution containing 30% by mass in carbon tetrachloride.

Q:

13. A solution of glucose in water is labelled as 10% w/w, what would be the molality and mole fraction of each component in the solution? If the density of solution is 1.2g ml, then what shall be...

Q:

59. Water is filled in a tank as shown in figure. There is a hole from where liquid emerges with speed v. If air is blown over the tank, the speed v (a) will decrease (b) will increase (c) will...

Q:

The standard enthalpies of formation of CO.(g), H,O(1) and glucose (s) at 25C are -400 kJ/mol, -300 kJ/mol and -1300 kJ/mol, respectively. The standard enthalpy of combustion per gram of glucose at...

Q:

20. The value of lim cos COS 8. 2 cos is (a) 1 sin x (b) AG (c) sin x (d) None of these

Q:

Among a group of 5 8 programmers, who know either Java or Python or both, 1 5 only know Java and 1 3 only know Python. What is the probability of randomly choosing a programmer who knows both...

Q:

2. To understand that as a general rule it takes about 3 minutes before the other part(s) have made up a 90% impression of you.

Q:

3. To understand that the first impression means a lot, and it takes a lot of energy to change this first impression.

Q:

Go, do not wait until I come