Homework Answers
Solution:
Note 1:
Interest = 10600*6%*4/12 = $212
Note 2:
Fraction of te year = $260*12 / (26000*4%) = 3 months
Note 3:
Annual interest rate = $1550*(12/6)/ 31000 = 10%
Note 4:
Face value = $660*12/6*1/10% = $13,200
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