CALCULUS:GRAPHICAL,NUMERICAL,..-PACKAGE
5th Edition
ISBN: 9780133320381
Author: Finney
Publisher: SAVVAS L
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Which of the following would NOT be included in
accounts payable?
A. Utility bills
B. Salaries payable
C. Supplier invoices
D. Rent payable
In his will dated July 17, 1,788, Benjamin Franklin stated that he wished "to be useful even after my
death if possible," and to this end, Franklin left 1,000 pounds sterling (about $4,570) to be used to make
loans to the inhabitants of Boston. Round your answer to the nearest cent.
Part 1:
a. If the will stipulated that not more than 90 pounds, about $411.3, was to be loaned
to apprentices at a 5 percent annual interest rate. What is the interest on this amount
for 1 year?
$ 20.57
Part 2 out of 3
b. Suppose the will also required that at the end of each year, the borrower pay off 10
percent of the total amount owed. Add the interest from part a to $411.3 to determine
the total amount owed at the end of the first year. What is 10 percent of this amount?
$
Determine whether the following situation is an example of business loans or consumer loans.
a. Mr. Sue wants to have another branch of his coffee shop near the university.
O Business Loans
O Consumer Loans
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