Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Computer Science Posted 20 Jul 2017 My Price 4.00

engineering economy

Bart is an engineering graduate who did not take the engineering economy elective during his B.S. degree course work. After working for a year or so, he found himself in fi nancial trouble, and he borrowed $500 from a friend in the finance department at his office. Bart agreed to repay the loan principal plus $75 interest 1 month later. The two

got separated doing different jobs, and 1 year went by. The friend e-mailed Bart after exactly 1 year and asked for the loan repayment plus the interest with monthly compounding, since Bart had made no effort to repay the loan during the year. ( a ) What does Bart now owe his friend? ( b ) What effective annual interest rate did Bart pay on this $500 loan?

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Jul 2017 07:07 PM My Price 4.00

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