Question: What is the total amount owed using simple interest? Where the loan amount is $116,000 at 0.08 interest rate for 4 years. Your Answer: Answer

What is the total amount owed using simple interest? Where the

What is the total amount owed using simple interest? Where the loan amount is $116,000 at 0.08 interest rate for 4 years. Your Answer: Answer units

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!

Q:

What is the total amount owed using simple interest? Where the loan amount is $116,000 at 0.18 interest rate for 5 years. Your Answer: 118204 Answer units

Q:

i will add few pictures, those are the examples of that assignment. Professor left has a reference, please follow those images as a reference and complete the assignment asap. Instructions Complete...

Q:

8. Calculating an installment loan payment using simple interest Calculating the Loan Payment on a Simple Interest Installment Loan Installment loans allow borrowers to repay the loan with periodic...

Q:

8. Calculating an installment loan payment using simple interest Calculating the Loan Payment on a Simple-Interest Installment Loan Instaliment loans allow borrowers to repay the loan with periodic...

Q:

8. Calculating an installment loan payment using simple interest Calculating the loan Payment on a Simple-Interest Installment Loan Instaiment loans allow borrowers to repay the loan with periodic...

Q:

Attention: Due to a bug in Google Chrome, this page may function correctly. Click here to learn more Calculating an installment loan payment using simple interest Calculating the Loan Payment on a...

Q:

Back to Assignment Attempts This attempt is in progress. Average no score out of 6/ 6 8. Calculating an installment loan payment using simple interest Calculating the Loan Payment on a...

Q:

8. Calculating an installment loan payment using simple interest Calculating the Loan Payment on a Simple-Interest Installment Loan Installment loans allow borrowers to repay the loan with periodic...

Q:

8. Calculating an installment loan payment using simple interest Calculating the Loan Payment on a Simple-Interest Installment Loan Installment loans allow borrowers to repay the loan with periodic...

Q:

8. Calculating an installment loan payment using simple interest Calculating the Loan Payment on a Simple-Interest Instaliment Loan Installment loans allow borrowers to repay the loan with periodic...

Q:

1 Currently, Atlas Tours has $5.96 million in assets. This is a peak six-month period. During the other six months, temporary current assets drop to $470,000. pints eBook Print References Temporary...

Q:

Tim Durant is an Australian professional basketball player in the Australia Basketball league. He is one of the league's most prolific scorers and has been called the best overall player. After...

Q:

Prabody Company bums % OK of the outvtanding capital stock of Sloane Company, During 2 0 1 4 and 2 0 1 5 5 Sione Company rolds was $ 3 7 , 0 0 0 and 5 2 4 0 0 0 respectlively. At the end al each...

Q:

XYZ company's project valuation and risk analysis. Please use the template called "XYZ project valuation template" in Midterm Exam (in Assignments) to finish this

Q:

Management (inaugurated) the recycling policy six months ago.

Q:

Being a jack-of-all-trades, Dave worked well in his new selling job.

Q:

Its a dog-eat-dog world out there in the rat race of the asphalt jungle.