Diana borrowed 2000 from pat and promised to pay him 2165, Ask an Expert

Economics

Diana borrowed $2,000 from Pat and promised to pay him $2,165 after 1.5 years. What simple interest rate did she have in mind?

5.5% per month

5.5% per year

6.5% per year

72.2% per year

How long does it take double an investment of $20,000 if the investment pays only simple interest at the rate of 3% per year?

33.33 years

35.38 years

0.33 years

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91371055

Have any Question?Write your Review or question?

Related Questions in Business Economics

Find the five number summary range and interquartile range

Find the five number summary, Range, and interquartile range, and midrange for the data: 52,27,36,69,43,59,40,70,32

Link changes in unemployment inflation wages and gdp to one

Link changes in unemployment, inflation, wages, and GDP to one another and how they impacted each other during periods of economic decline (recessions) and periods of economic growth (expansion) over the past 10 years.

Equipment maintenance costs for manufacturing

Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $125,000 in year one and increase by 3.5% each year through year five. What is the equivalent annual worth of the mainte ...

In the late 1800s the us dollar was on a bi-metallic

In the late 1800s, the U.S. Dollar was on a bi-metallic standard. According to the official standard, one ounce of gold was worth 16 ounces of silver. However, on a free market the trading ratio of silver to gold was aro ...

Calculate the size of the surplus or shortage of hours

Calculate the size of the surplus or shortage of hours created by the imposition of the minimum wage ($19) Related info: Assume that the market for unskilled labour in Australia is a competitive market and can be describ ...

Each of the following lists has an average of 50 for which

Each of the following lists has an average of 50. For which one is the spread of the numbers around the average biggest?smallest? a. 0, 20, 40, 50, 60, 80, 100 b. 0, 48, 49, 50, 51, 52, 100 c. 0, 1, 2, 50, 98, 99, 100 Gu ...

Brexita what possible impact could this event have on

"Brexit" A. What possible impact could this event have on European trade? Provide a credible citation. B. Provide me with the latest October 2017 citation you can find on the Brexit situation.

Of the people who fished at clearwater park today 45 had a

Of the people who fished at Clearwater Park today, 45 had a fishing license, and 5 did not. Of the people who fished at Mountain View Park today, 36 had a license, and 4 did not. (No one fished at both parks.) Suppose th ...

Answer in true or false1 compensation of employees is the

Answer in true or False: 1) Compensation of employees is the largest component of national income. 2) National income is the income that individuals and firms earn from their production.

Whyy is it necessary to calculate a pooled standard

WHYY is it necessary to calculate a "pooled standard deviation" when calculating the effect size of an independent-samples t test but not when calculating the effect size of any other type of t test.

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert