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...

50.1K

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

Psychology
1.2K views

provide an integrative (using information from more than one source provided) to address the following question...

Basic Math
1.2K views

A survey was conducted among 92 men and 217 women and got their BMI values. Among...

Geometry
1.2K views

For each of the following equations find all real solutions i e find the general...

Geometry
1.2K views

1 2 3 W a Y 12 M 13 K 16 12 34 L B...

Basic Math
1.2K views

Determine whether the improper integral diverges or converges. ...

Algebra
1.2K views

2x-y+z=6x-3y +z = -2x + 2y-z = 3draw a sketch of the three fields and...

Accounting
1.2K views

During January 2024, the following transactions occur: January 1 Purchase equipoent for $21,000. The company...

Accounting
1.2K views

busincss on May 31 . a. The May 31 bank statement lists $220 in bank...

Accounting
1.2K views

Use the following data to determine the total dollar amount of assets to be classified...

Accounting
1.2K views

Sentra Limited is a public company whose headquarters is in Johannesburg, South Africa. It is...

Accounting
1.2K views

Prepare a merchandise purchases budget for July, August, and September. Also, compute total merchandise purchases...

Accounting
1.2K views

Beavires. Complete this question by entering your answers in the tabs below. for teoth camparies...