Polson Associates bought a new computer system. To pay fot the system, they borrowed $41,950 from...
Homework Answers
Simple interest = Principal × Rate × Time
Simple interest = $41,950 × 8.75% × 130/360
Simple interest = $1,325.50
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Polson Associates bought a new computer system. To pay fot the
system, they borrowed $41,950 from...
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Question 13 3.33 pts The principal Pis borrowed at simple interest rater for a period of...
Question 13 3.33 pts The principal Pis borrowed at simple interest rater for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent. P - $7900 4.5% 14 months $414.75 $8314.75 $4977.00 $452.45
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11-8
Ron Prentice bought goods from Shelly Katz. On May 20, Shelly
gave Ron a time extension on his bill by accepting a $4,320, 6%,
175-day note. On Aug. 25, Shelly discounted the note at Roseville
Bank at 8%. (Use Days in a year table.)
What proceeds does Shelly Katz receive? (Use 360 days a
year. Do not round intermediate calculations. Round your answer to
the nearest cent.)
Proceeds received
$
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Hafers, an electrical supply company, sold $3,800 of...
Bill Blank signed an $7,540 note at Citizen's Bank. Citizen's charges a 8.2% discount rate. Assume...
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An amount of $15,000 is borrowed from the bank at an annual interest rate 12% h...
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Use ordinary interest: (Round your answer to the nearest cent.) Interest Date Date Principal Rate Borrowed...
Use ordinary interest: (Round your answer to the nearest cent.) Interest Date Date Principal Rate Borrowed Repaid $9,000 11% Apr. 20 Aug. 8 A Time Simple Interest B Amount Paid Back days
The Atlantic Medical Clinic can purchase a new computer system that will save $5,000 annually in...
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Diane Van Os decided to buy a new car since her credit union was offering such low interest rates. She borrowed $32,300...
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Question 13 3.33 pts The principal Pis borrowed at simple interest rater for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent. P - $7900 4.5% 14 months $414.75 $8314.75 $4977.00 $452.45
11-8
Ron Prentice bought goods from Shelly Katz. On May 20, Shelly
gave Ron a time extension on his bill by accepting a $4,320, 6%,
175-day note. On Aug. 25, Shelly discounted the note at Roseville
Bank at 8%. (Use Days in a year table.)
What proceeds does Shelly Katz receive? (Use 360 days a
year. Do not round intermediate calculations. Round your answer to
the nearest cent.)
Proceeds received
$
11-9
Hafers, an electrical supply company, sold $3,800 of...
Bill Blank signed an $7,540 note at Citizen's Bank. Citizen's charges a 8.2% discount rate. Assume the loan is for 270 days. a. Find the proceeds. (Use 360 days a year. Round your intermediate calculations and final answer to the nearest cent.) Proceeds b. Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.) Effective rate You were offered the opportunity to purchase either...
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Use ordinary interest: (Round your answer to the nearest cent.) Interest Date Date Principal Rate Borrowed Repaid $9,000 11% Apr. 20 Aug. 8 A Time Simple Interest B Amount Paid Back days
Diane Van Os decided to buy a new car since her credit union was offering such low interest rates. She borrowed $34,000 at 3.25% on December 11 2016, and paid it off March 08 2018. How much did she pay in interest? (Assume exact interest.) (Use Days in a year table.)(Do not round intermediate calculations. Round your answer to the nearest cent.) Interest paid
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