Find the simple interest. Assume the rate is an annual rate. Assume 360 days in a...
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
A 3-month $25,000 treasury bill with a simple annual discount rate of 0.25% was sold in 2016. Assume 365 days in a year. (a) Find the price of the treasury bill (T-bill). (b) Find the actual interest rate paid by the Treasury. (a) The price of the T-bill was $] (Round to the nearest cent as needed.) A 6-month $20,500 treasury bill with a simple annual discount rate of 0.44% was sold in 2016. Assume 365 days in a year....
Calculating Interest Using 360 days as the denominator, calculate interest for the following notes using the formula 1 = P x R x T. If required, round your answers to the nearest cent. Time 30 days 60 Principal Rate Interest $5,400 1,000 3,700 950 1,250 2,100 6.00% 7.50 8.00 6.80 7.25 7.00 120 95 102 90
Simple Interest USE A 360 DAY YEAR Calculate the simple interest amount and the future value using the simple interest formula. 365 day year Principal Interest Rate Time Simple Interest Amount Future Value $ 18,000 4.5% 18 months $ 21,000 5% 1.75 Years $ 18,000 7.25% 9 months $ 1,000 8% 93 days $ 585 9% 193 days $ 1,200 12% 187 days 1) Leslie Hart borrowed $15,000 to pay for her child’s education. Leslie must repay the loan...
Use the commission schedule from Company B shown in the table to find the annual rate of Principal (Value of Stock) interest earned on the investment. (Note: commisions are rounded to the nearest cent.) Under $3,000 $3,000 - $10,000 Over $10,000 An investor purchases 262 shares at $35.96 a share, holds the stock for 284 days, and then sells the stock for $50.99 a share. Assume a 360-day year. Commission $32 + 1.8% of principal $56 + 1.% of principal...
The principal P is borrowed at simple interest rater for a period of time t. Find the loan's future value, A, or the total amount due at time t. Round answer to the nearest cent. 37) P = $11,000.00, r = 9%, t = 150 days A) $11,412.50 B) $11,425.50 $11,406.85 D) $159,505.00
Given Principal $14,5ee, Interest Rate 8%, Time 24e days (use ordinary interest) Partial payments: On 108th day, $5,6ee On 18eth day, $3,300 6. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round Intermediate calculations. Round your answer to the nearest cent.) Total interest cost | b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.)...
Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 11% compounded monthly: 11.25% compounded annually %. The effective annual yield for a 11% compounded monthly investment is (Round to two decimal places as needed.) Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 3% compounded semiannually; 2.9% compounded daily %. The effective annual yield for a 3% compounded semiannually investment...
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...
thank you a lot Calculate interest using a 360-day year. If required, round your answers to the nearest cent. Principal Interest Rate Time Interest $2,700 9.6% 30 days $ 3,000 8.0% 45 days $ 3,300 6.0% 80 days $ ll 3,800 10.5% $ $ $ 120 days 5,300 12.0% 150 days