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Craig borrowed $242,000 on October 1, 2020 and is required to pay $252,000 on March 1, 2021. How much cash did Craig receive on on October 1, 2020?
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Craig borrowed $242,000 on October 1, 2020 and is required to pay $252,000 on March 1, 2021. How much cash did Craig receive on on October 1, 2020?

User Alex Kalmikov
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Answer:

Craig received $242,000 on October 1, 2020

Step-by-step explanation:

This is the amount he received in cash and the additional $10000 is the interest charged on the initial amount.

User Prabin Tp
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