Jin Li, an employee of ETrain. com, leases a car at O’Hare Airport for a three-day business trip. The rental cost is $250. Prepare the entry by ETrain. com to record Jin Li’s short-term car lease cost.

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

look a the sides they are perpendicular