I borrow $85,000 at an interest rate of 8% APR compounded continuously with monthly payments of $1,000. Three years from now I re-finance the remaining balance at 6% APR compounded quarterly with the same monthly payments. How long would it take from the original loan date (months) to pay the loan down to a balance of $10,000?

If you offer up your car as a demonstration that you will pay off your loan to a bank or another financial lending institution, you are using your car as collateral. true false

Acompany set up a petty cash fund with $800. the disbursements are as follows: office supplies $300 shipping $50 postage $30 delivery expense $350 to create the fund, which account should be credited? a. postage b. cash at bank c. supplies d. petty cash

Which of the following statements about revision is most accurate? (a) you must compose first drafts quickly (sprint writing) and return later for editing. (b) careful writers always revise as they write. (c) revision is required for only long and complex business documents. (d) some business writers prefer to compose first drafts quickly and revise later; others prefer to revise as they go.