Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. silver falls finances, inc. made the following loa

Silver Falls Finances, Inc. made the following loan using a discount rate to compute the...

80.2K

Verified Solution

Question

Accounting

Silver Falls Finances, Inc. made the following loan using a discount rate to compute the charge, and then loaned the proceeds to their clients. Compute the amount of discount, the proceeds, and the actual interest rate based upon the proceeds rather than the face value. Use a 360-day year and compute actual rates to the nearest 1/100 of a percent.ActualFaceDiscountDiscountInterestValueRateTimeAmountProceedsRate$2,18010%75 days________________________

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

Q

C Government Revenue Revenue is a fancy word for income Use the proportions in the...

Statistics
Q

Concentrations # of drops # of drops # of drops Stock Solution Stock Solution Reaction (after mixing in well) Reaction (after mixing...

Chemistry
Q

discuss the concepts of relative risk and absolute risk as applied to eating day to day...

Biology
Q

Shootings Gun control and the Virginia Tech massacre By Adam Gopnik The cell phones in the...

Psychology
Q

Scott secured a 5-year car lease at 6.20% compounded annually that required him to make payments...

Advance Math
Q

5 Check to see if the sides are proportional by creating ratios between corresponding sides...

Geometry
Q

Find the value of Z0 2 Round to two decimal places OA 0 84 OB...

Statistics
Q

Simplify the radical without using rational exponents Assume all variables are restricted to positive values...

Algebra
Q

Question 2 18 points Identify the Local Maximum and Local Minimum coordinates of the function...

Algebra
Q

Calculation of Investment Balance, Comprehensive Eliminating Entries, Variety of Intercompany Transactions Poplar Outdoor Corporation owns...

Accounting
Q

Please use the following account names for this homework: Assets: Cash Accounts Receivable Equipment Vehicles...

Accounting
Q

Colaw Company is considering buying equipment for $60,000 with a useful life of five years...

Accounting