Taylah purchased a 2017 Toyota Camry on 2 July 2020 for $46,000. She financed the full price of the vehicle and borrowed $3,000 extra to pay off her credit card. What will the interest apportionment percentage be?

Taylah purchased a 2017 Toyota Camry on 2 July 2020 for $46,000. She financed the full price of the vehicle and borrowed $3,000 extra to pay off her credit card. What will the interest apportionment percentage be?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Taylah purchased a 2017 Toyota Camry on 2 July 2020 for $46,000. She financed the full price of the vehicle and borrowed $3,000 extra to pay off her credit card.

What will the interest apportionment percentage be?

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