Sol Pine borrows $6,500 for one year at 8 percent interest. What is the effective...
Sol Pine borrows $6,500 for one year at 8 percent
interest.
What is the effective rate of interest if the loan is discounted?
(Do not round intermediate calculations. Use a 360-day
year. Input your answer as a percent rounded to 2 decimal
places.)
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Sol Pine borrows $6,500 for one year at 8 percent
interest.
What is the effective...
Mary Ott is going to borrow $14.600 for 45 days and pay S185 interest. What is...
Mary Ott is going to borrow $14.600 for 45 days and pay S185 interest. What is the effective rate of interest if the loan is discounted? (Use a 360-day year. Do not round intermediate calculations input your answer as a percent rounded to 2 decimal places.)
Mary Ott is going to borrow $9,800 for 75 days and pay $171 interest. What is...
Mary Ott is going to borrow $9,800 for 75 days and pay $171 interest. What is the effective rate of interest if the loan is discounted? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
Mary Ott is going to borrow $13,200 for 90 days and pay $172 interest. What is...
Mary Ott is going to borrow $13,200 for 90 days and pay $172 interest. What is the effective rate of interest if the loan is discounted? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
Talmud Book Company borrows $19.900 for 45 days at 10 percent interest. What is the dollar...
Talmud Book Company borrows $19.900 for 45 days at 10 percent interest. What is the dollar cost of the loan? (Use a 360-day year. Do not round Intermediate calculations and round your final answer to 2 decimal places.) Cost of loan
Your company plans to borrow $14 million for 12 months, and your banker gives you a...
Your company plans to borrow $14 million for 12 months, and your banker gives you a stated rate of 20 percent interest. Calculate the effective rate of interest for the following types of loans. a. Simple 20 percent interest with a compensating balance of 8 percent. (Use a 360-day year. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest 21.74:% b. Discounted interest (with no compensating balance). (Input your answer as percent rounded to...
Talmud Book Company borrows $24,900 for 60 days at 12 percent interest. What is the dollar...
Talmud Book Company borrows $24,900 for 60 days at 12 percent interest. What is the dollar cost of the loan? (Use a 360-day year. Do not round intermediate calculations.) Cost of loan $
Neveready Flashlights Inc. needs $350,000 to take a cash discount of 3/18, net 72. A banker...
Neveready Flashlights Inc. needs $350,000 to take a cash discount of 3/18, net 72. A banker wil dan the money for 54 days at an interest cost of $14,500 a. What is the effective rate on the bank loan? Use a 360-day year. Do not round Intermediate calculations. Input your answer as a percent rounded to 2 decimal places) Effective rate of interest b. How much would it cost in percentage terms) f the firm did not take the cash...
Mary Ott is going to borrow $14,600 for 45 days and pay $185 interest. What is...
Mary Ott is going to borrow $14,600 for 45 days and pay $185 interest. What is the effective rate of interest if the loan is discounted? (Use a 360-day year. Do not round intermediate calculations places.) Effective rate on a discounted loan
Harper Engine Company needs $634,000 to take a cash discount of 2.50/20, net 120. A banker...
Harper Engine Company needs $634,000 to take a cash discount of 2.50/20, net 120. A banker will loan the money for 100 days at an interest cost of $14,700. a. What is the effective rate on the bank loan? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest b. How much would it cost (in percentage terms) if Harper did not take the cash discount...
Harper Engine Company needs $638,000 to take a cash discount of 1.50/15, net 65. A banker...
Harper Engine Company needs $638,000 to take a cash discount of 1.50/15, net 65. A banker will loan the money for 50 days at an interest cost of $16,800. a. What is the effective rate on the bank loan? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest L % b. How much would it cost (in percentage terms) if Harper did not take the...
Mary Ott is going to borrow $14.600 for 45 days and pay S185 interest. What is the effective rate of interest if the loan is discounted? (Use a 360-day year. Do not round intermediate calculations input your answer as a percent rounded to 2 decimal places.)
Talmud Book Company borrows $19.900 for 45 days at 10 percent interest. What is the dollar cost of the loan? (Use a 360-day year. Do not round Intermediate calculations and round your final answer to 2 decimal places.) Cost of loan
Your company plans to borrow $14 million for 12 months, and your banker gives you a stated rate of 20 percent interest. Calculate the effective rate of interest for the following types of loans. a. Simple 20 percent interest with a compensating balance of 8 percent. (Use a 360-day year. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest 21.74:% b. Discounted interest (with no compensating balance). (Input your answer as percent rounded to...
Neveready Flashlights Inc. needs $350,000 to take a cash discount of 3/18, net 72. A banker wil dan the money for 54 days at an interest cost of $14,500 a. What is the effective rate on the bank loan? Use a 360-day year. Do not round Intermediate calculations. Input your answer as a percent rounded to 2 decimal places) Effective rate of interest b. How much would it cost in percentage terms) f the firm did not take the cash...
Mary Ott is going to borrow $14,600 for 45 days and pay $185 interest. What is the effective rate of interest if the loan is discounted? (Use a 360-day year. Do not round intermediate calculations places.) Effective rate on a discounted loan
Harper Engine Company needs $634,000 to take a cash discount of 2.50/20, net 120. A banker will loan the money for 100 days at an interest cost of $14,700. a. What is the effective rate on the bank loan? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest b. How much would it cost (in percentage terms) if Harper did not take the cash discount...
Harper Engine Company needs $638,000 to take a cash discount of 1.50/15, net 65. A banker will loan the money for 50 days at an interest cost of $16,800. a. What is the effective rate on the bank loan? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest L % b. How much would it cost (in percentage terms) if Harper did not take the...
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