Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tina mier must pay a $1,250 furniture bill. a fina

Tina Mier must pay a $1,250 furniture bill. A finance company will loan Tina $1,250...

70.2K

Verified Solution

Question

Accounting

image
Tina Mier must pay a $1,250 furniture bill. A finance company will loan Tina $1,250 for 8 months at a 12.30% discount rate. The finance company told Tina that if she wants to receive exactly $1,250, she must borrow more than $1,250. The finance company gave Tina the following formula: Amount of cash to be received What to ask for 1 - (Discount rate * Time of loan) Calculate Tina's loan request. (Do not round intermediate calculations. Round your final answer to the nearest cent.) Lolan request

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

Biology
1.2K views

An organism originally has a diploid number of 66 chromosomes. No meiosis occurs in this...

Biology
1.2K views

What is true about the gene pool of a population OA The product of its...

Biology
1.2K views

Microevolution describes evolution on its smallest scale such as the change in allele fre quencies...

Basic Math
1.2K views

21 Major Company reported 2024 income of 310 000 from continuing operations before income taxes...

Basic Math
1.2K views

Find the standard deviation for the group of data items.6, 6, 9, 9, 9, 9The...

Algebra
1.2K views

Evaluate the following expression if possible 3 7p 1 3 F 3 30 Pr

Accounting
1.2K views

4. Devo Oil Company acquired property rights to search for natural...

Accounting
1.2K views

If a tax professional thinks that the IRS might question an item on the tax...

Accounting
1.2K views

1. Which of the following is incorrect? Defined benefit plans are fully employer funded. IRS...

Accounting
1.2K views

Exercise 2 For Warren Corporation, year-end plan assets were $2,000,000. At...

Accounting
1.2K views

When a member performs non-attest services for an attest client, management is required to designate...

Accounting
1.2K views

ABC Corporation manufactures tennis gear and uses budgeted machine-hours to allocate variable manufacturing overhead. The...