The Corner Bakery needs $86,000 today for remodeling.They have obtained a 2-year, pure-discount loan at an interest rate of 6.8 percent, compounded annually.How much must they repay in two years?
A) $94,064.20
B) $89,540.21
C) $90,860.00
D) $91,159.39
E) $98,093.66
Correct Answer:
Verified
Q76: Assume your university earns an average rate
Q77: Kurt will receive $1,200 a month for
Q78: What is the effective annual rate of
Q79: What is the effective annual rate of
Q80: Leann will receive $ 95,000 a year
Q82: Today, you are borrowing $18,200 to purchase
Q83: Julie is borrowing $14,950 to purchase a
Q84: You have an outstanding loan with an
Q85: Your aunt loaned you money at 1.00
Q86: The Egg House just borrowed $660,000 to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents