posted by Zoey on .
True or false?
Intentionally writing a check on an account with insufficient funds is allowed under certain conditions.
I say false?
Ben Spender writes a $50 check which is returned by his bank with additional charges. The company he wrote the check to, Art Supply Inc., also charges $20 for returned checks, which of the following represents the amount Ben must have to balance his debts.
more than $70, less than $70, $70.
I say $70?
Find the interest due on $800 at 12% for 120 days?
$34.00, $32.00, or $30.00
I'm not sure how to figure this one out?
The first is right.
The second is wrong.
800 * 0.12 = $96
96/3 = $32
This assumes a 360-day year.