Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. linda borrowed $19,000 on august 17th. she paid $4

Linda borrowed $19,000 on August 17th. She paid $4,500 on November 11th, $5,500 on December...

70.2K

Verified Solution

Question

Accounting

Linda borrowed $19,000 on August 17th. She paid $4,500 on November 11th, $5,500 on December 8th, and the balance on February 21st. The rate of interest on the loan was 8.5%. How much did Linda pay on February 20th? Use the declining balance method.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Assume that you use Purchasing Power Parity (PPP) to forecast exchange rates. Suppose you expect that...

Operations Management
1.2K views

Using your own words, please explain the main assumption of situational theories of leadership. Give examples...

Medical Sciences
1.2K views

A patient who has recently been in a car accident no longer remembers how to tie...

Chemistry
1.2K views

Given the following heats of formation (ΔH°f, 25°C) and heats of combustion (ΔH°c, 25°C) data, determine...

Civil Engineering
1.2K views

Explain the various types of excavation then analyse the purposes of using each type.

Advance Math
1.2K views

Determine a differential equation that has x = 0 as a regular singular point and that...

Basic Math
1.2K views

Evaluate the integral 9x 46 73 82 462 68 dx Hint Factor the denominator by...

Statistics
1.2K views

ill in the blank to complete the statement The area under the normal curve to...

Accounting
1.2K views

Could I get help with the following? Please display where the information is coming from...

Accounting
1.2K views

True or false 3 points 3. The profitability ratios show the combined effects of...

Accounting
1.2K views

! Required information [The following information applies to the questions displayed below.] George...

Accounting
1.2K views

! Required information [The following information applies to the questions displayed below.) Marc and Michelle...