Automotive Excellence Inc. borrowed $15,000.00 on June 21 with an interest rate of 8.1% per annum. On July 5, $4800.00 was repaid, and on August 10, $5500.00 was repaid. Automotive Excellence paid the balance of the loan on October 11. What was the final payment
Automotive Excellence Inc. borrowed $15,000.00 on June 21 with an interest rate of 8.1% per annum. On July 5, $4800.00 was repaid, and on August 10, $5500.00 was repaid. Automotive Excellence paid the balance of the loan on October 11. What was the final payment
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
Related questions
Question
Automotive Excellence Inc. borrowed
$15,000.00
on
June 21
with an interest rate of
8.1%
per annum. On
July 5,
$4800.00
was repaid, and on
August 10,
$5500.00
was repaid. Automotive Excellence paid the balance of the loan on
October 11.
What was the final payment?Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Algebra and Trigonometry (6th Edition)](https://www.bartleby.com/isbn_cover_images/9780134463216/9780134463216_smallCoverImage.gif)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
![Contemporary Abstract Algebra](https://www.bartleby.com/isbn_cover_images/9781305657960/9781305657960_smallCoverImage.gif)
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
![Linear Algebra: A Modern Introduction](https://www.bartleby.com/isbn_cover_images/9781285463247/9781285463247_smallCoverImage.gif)
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
![Algebra and Trigonometry (6th Edition)](https://www.bartleby.com/isbn_cover_images/9780134463216/9780134463216_smallCoverImage.gif)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
![Contemporary Abstract Algebra](https://www.bartleby.com/isbn_cover_images/9781305657960/9781305657960_smallCoverImage.gif)
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
![Linear Algebra: A Modern Introduction](https://www.bartleby.com/isbn_cover_images/9781285463247/9781285463247_smallCoverImage.gif)
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
![Algebra And Trigonometry (11th Edition)](https://www.bartleby.com/isbn_cover_images/9780135163078/9780135163078_smallCoverImage.gif)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
![Introduction to Linear Algebra, Fifth Edition](https://www.bartleby.com/isbn_cover_images/9780980232776/9780980232776_smallCoverImage.gif)
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
![College Algebra (Collegiate Math)](https://www.bartleby.com/isbn_cover_images/9780077836344/9780077836344_smallCoverImage.gif)
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education