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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...
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...
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...
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...
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...
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 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...
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...
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...
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...
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
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
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
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