Markus failed to make three payments of $2,500 scheduled one year ago, nine months ago, and 7months ago. As his creditor has successfully sued Markus in small claims court, thejudge orders him to pay his debts. If the court uses a simple interest rate of 1.5%per month, what amount should the judge order Markus to pay today?Select one:a. $8450.00b. $8650.00c. noned. $8550.00Check

Simple interest is simple and there is no compounding of interest and no interest on interest is…

Markus failed to make three payments of $2,500 scheduled one year ago months ago. As his creditor has successfully sued Markus in sr judge orders him to pay his debts. If the court uses a simple per month, what amount should the judge order Markus to Select one: a. $8450.00 b. $8650.00 c. none d. $8550.00

Markus failed to make three payments of $2,500 scheduled one year ago months ago. As his creditor has successfully sued Markus in sr judge orders him to pay his debts. If the court uses a simple per month, what amount should the judge order Markus to Select one: a. $8450.00 b. $8650.00 c. none d. $8550.00

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 34P: Sally is in the business of purchasing accounts receivable last year Sally purchased an account...

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