Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
19015723320
Group Title
Janet took out a loan of $50,000 from Bank of America at 8 percent on March 19, 2006 which is due on July 8, 2006. Using exact interest, the amount of Janet's interest cost is: (Points : 1)
$5,018.44
$2,561.44
$5,261.44
$5,216.44
None of these
 2 years ago
 2 years ago
19015723320 Group Title
Janet took out a loan of $50,000 from Bank of America at 8 percent on March 19, 2006 which is due on July 8, 2006. Using exact interest, the amount of Janet's interest cost is: (Points : 1) $5,018.44 $2,561.44 $5,261.44 $5,216.44 None of these
 2 years ago
 2 years ago

This Question is Closed

mathmate Group TitleBest ResponseYou've already chosen the best response.0
Can you check the question (namely the dates or year). A whole year's interest costs $4000, so less than 1/3 of a year cannot cost a minimum of $2561.
 2 years ago

mathmate Group TitleBest ResponseYou've already chosen the best response.0
If the repayment date is in 2007, then it's D (total of 365+111 days)
 2 years ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.