What was the rate of interest charged

Assignment Help Finance Basics
Reference no: EM133664115

Problem: Herschel borrowed $650 and is to repay the balance plus interest of $23.70 in seven months. What was the rate of interest charged? Provide a percentage.

Reference no: EM133664115

Questions Cloud

How much will william have when he retires in fourty years : After taking a personal finance class, William commits to a retirement savings plan by investing. How much will William have when he retires in 40 years?
Relationship between the mental illness and physical illness : Finally, describe the role of the social worker in addressing the relationship between mental and physical health.
Potentially impact obstetric and gynecological health : Can you recommend any resources for further understanding the relationship between environmental factors and women's reproductive health
What is the home equity credit limit on the house : The current market value of a home is $180000 with a mortgage balance of $126000. What is the home equity credit limit on this house?
What was the rate of interest charged : Herschel borrowed $650 and is to repay the balance plus interest of $23.70 in seven months. What was the rate of interest charged? Provide a percentage.
What is a reasonable estimate of the red fox population size : He then collects 100 different red fox over the next year. If the recapture rate is 10%, what is a reasonable estimate of the red fox population size
How much interest was paid to the company on june thirty : Fairplay Corp deposited $24,000 into a savings account earning simple interest of 1.5%. How much interest was paid to the company on June 30, 2021?
State the purpose of osha : State the purpose of OSHA. Describe three possible unsafe working conditions in a laboratory that may affect a worker's health and productivity
Explain what you could advise the board of occ : Explain what you could advise the Board of OCC about the choice of Financial Performance Measures such as ROI and EVA?

Reviews

Write a Review

Finance Basics Questions & Answers

  How much have you made or lost as a us investor

At maturity, the spot exchange rates is USD 1.10 / EUR. How much have you made or lost as a U.S. investor?

  You have a portfolio with a beta

You have a portfolio with a beta of 2.40. What will be the new portfolio beta if you keep 10 percent of your money in the old portfolio and 90 percent.

  Benefits of franchise to both the franchisee and franchiser

What are the benefits of franchise to both the franchisee and franchiser and What factors would you consider if interested in buying a franchise?

  Explain the exchange rate system

Explain the exchange rate system that existed during the 1950s and 1960s. How did the Smithsonian Agreement in 1971 revise it?

  Required rate of return to evaluate projects

Videlectrix Co. has two divisions: one is very risky, and hte other has significantly less risk. The company uses its investors' overall required rate of return to evaluate projects. It is most like that the firm will become:

  Explain count as it relates to point and figure charting

Explain Congestion area , Trend line, Wall and Count terms as it relates to point-and-figure charting:

  Annuity payment amounts with changing interest

Set up the fund of semi-annual payments to be compounded semi-annually to accumulate the some of $100,000 after 10 years at 8 percent annual rate (20 payments). Find out how much the semi-annual payment should be. (round to whole numbers.)

  Prepare the classified income statement and balance sheet

MPA702 Financial Interpretation - Deakin university - You are required to record the following transactions into the transaction analysis chart

  Predicted data on sales and costs

The ABC Company has an annual plant capacity of 25,000 units. Predicted data on sales and costs are given below:

  Statement of cash flows and tvm

Please help me solve the following problems related to the statement of cash flows-Tiki Timber Corp invested $6,000,000 in new equipment which will yield sales totaling $1,750,000 for years 1 through 3 and $2,400,000 for years 4 through 6. The annu..

  Describe the cost trade offs associated with maintaining

Describe the cost trade-offs associated with maintaining the following: a. Excessive liquid asset balances b. Inadequate liquid asset balances

  Construct the supply and demand curves

You are given the following information about the satellite dish (for television/cable reception) market in the USA

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd