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Komal borrows $14,000 from her father to open her accounting practice.pdf

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Komal borrows $14,000 from her father to open her accounting practice. She cashed in a $20,000 savings bond that paid her 2% per year. Komal agrees to pay her Dad interest of 1% per year CiBC bank would have baned Komal the money, but at an interest rate of 3% per year Komafs explict costs of this loan from her Dad are A. $140 B. $280 C. $560. D. $420.

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Komal borrows $14,000 from her father to open her accounting practice. She cashed in a $20,000 savings bond that paid her 2% per year. Komal agrees to pay her Dad interest of 1% per year CiBC bank would have baned Komal the money, but at an interest rate of 3% per year Komafs explict costs of this loan from her Dad are A. $140 B. $280 C. $560. D. $420

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Komal borrows $14,000 from her father to open her accounting practice.pdf

  • 1. Komal borrows $14,000 from her father to open her accounting practice. She cashed in a $20,000 savings bond that paid her 2% per year. Komal agrees to pay her Dad interest of 1% per year CiBC bank would have baned Komal the money, but at an interest rate of 3% per year Komafs explict costs of this loan from her Dad are A. $140 B. $280 C. $560. D. $420