Vacation Homes Incorporated invested 85,051 into a GIC that pays simple interest of 3.254 % p.a. from July 13, 2019 to September 30, 2019. Determine the maturity value of the investment.
Vacation Homes Incorporated invested 85,051 into a GIC that pays simple interest of 3.254 % p.a....
12. Fred borrowed $8600 at 6.45% p.a. simple interest and repaid the loan on October 15, 2019. If he was umont of a $6200 loan at 9.6% p.a. simple interest, if the loan was received on 350 Chapter 8 1 Simple Interest and Applications July 17.00 simple interest amount of $151.97, when did he receive the loan?
A $ 49,437 simple interest bearing promissory note is issued on July 13, 2019 at 11.11 % p.a. for 173 days. Determine the interest that will be earned on the promissory note.
A $ 49,437 simple interest bearing promissory note is issued on July 13, 2019 at 11.11 % p.a. for 173 days. Determine the interest that will be earned on the promissory note.
Greg invested $100,000 in a three-year guaranteed investment certificate (GIC) on September 1, Year 1. The GIC pays interest of 1% in Years 1 to 3. The interest compounds and is reinvested each year on the anniversary date of the GIC. The full amount —principal and all compounded interest —will be received upon maturity on August 31, Year 4.Determine the minimum amount of income that Irene must report for Year 1 through Year 4 in respect of this investment.
The company invested $100,000 on July 1, 20XA at 4% simple interest for 27 months). 23. $ Determine interest revenue for 20XA 24. $ _Determine interest revenue for 20XB 25. $ _Determine interest revenue for 20XC Use the following to answer questions 26-27 The company invested $100,000 on April 1, 20XA at 5.5% simple interest for 15 months. 26. $ Determine interest revenue for 20XA 27.$__ Determine interest revenue for 20XB Use the following to answer questions 28-30 The company...
You must show work to receive credit. Cirele or otherwise clearly identify your final answers 1. [1pt] In order to start a small business, Jared takes out a simple interest personal loan for $4,000 in March 2019. He doesn't need to make regular payments, but the loan is due in full, plus interest, in December 2019, The bank charges an 8.25% interest rate. How much must Jared pay back when the loan is due? [Round to the nearest cent.) 2....
A $ 33,012 simple interest bearing promissory note is issued on June 26, 2018 at 7.09 % p.a. for 70 days. Determine the maturity value of the note
A bond of par value 1,000 pays a coupon of 4% p.a. annually for 20 years and the par value is 1,000 (coupon calculated on this number and not on maturity value). Calculate the following: The price of the bond and the current yield/ maturity of the bond is also 4%, if the 1. a. maturity value is: . $1,000 i. $950 b. Explain the answers as to the prices of the bonds as to why they are equal to,...
An investment pays 5% interest compounded continuously. If money is invested steadily at the rate of $14,000, how much time is required until the value of the investment reaches $140,000? The amount of time required is approximately years. (Type an integer or decimal rounded to the nearest hundredth as needed.)
Juan invested $10,000 in a CD that gives 5% simple interest. He received $2000 in interest. In order to determine how long Juan's money was invested, we'll use the formula: Interest=Principal Yearly interest rate Time in years. Enter the numeric value that we should substitute for Yearly interest rate.