An automotive dealer borrowed S7500.00 from the Bank of Montreal on a demand note on May 13. Interest on the loan, calculated on the daily balance, is charged to the dealer's current account on the 13th of each month. Theautomotive dealer made a payment of $1700 on July 25, a payment of $4300 on October 1, and repaid the balance on December 1. The rate of interest on the loan on May 13 was 3% per annum. The rate was changed to 3.35%on August 1 and to 3.7% on October 1. What was the total interest cost for the loan?The total interest cost for the loan is S.(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Given Loan amount $7,500 Interest rate 3% form 13 july to 31 August 3.35% from 1 August to 30…

Answered: ..... cent as needed. Round all…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.): Stated Rate (APR) % Number of Times Compounded Semiannually Monthly Weekly Infinite Effective Rate (EAR) 12.2% 13.1 10.8 14.5
Find the APR, or stated rate, in each of the following cases: (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Stated Rate (APR) % Number of Times Compounded Semiannually Monthly Weekly Infinite Effective Rate (EAR) 12.1% 13.0 10.7 14.4
Y8 17 and 18 Important: Don't include signs like $ or % in your answers. Pay close attention to the rounding instructions. For example, if the question instructs you to "round to the nearest cent" or "round to two decimal places", and the answer you found is $12,678.04678, you need to submit 12678.05. Some questions may ask you to round to the nearest whole number or nearest dollar, in which case the answer would be 12678. Tolerance: Be careful with rounding and do not round until you arrive at the final answer. Answer tolerance is ±1 at the last digit based on the decimal place accuracy required by that question. For example, if a question asks you to round to the nearest cent (two decimal places) and the correct is $1,235.06, answers within ± 0.01 ($1,235.05 to $1,235.07) will count as correct. As another example, if a question asks you to round a percent answer to one decimal place and the correct answer is 4.6%, answers within ± 0.1% (4.5% to 4.7%) will count as correct.…
Round to two decimal places please
Solve for the unknown interest rate in each of the following (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.):
Round to four decimal places.
Concord Pix currently uses a six-year-old molding machine to manufacture silver picture frames. The company paid $95,000 for the machine, which was state of the art at the time of purchase. Although the machine will likely last another ten years, it will need a $12,000 overhaul in four years. More important, it does not provide enough capacity to meet customer demand. The company currently produces and sells 9,000 frames per year, generating a total contribution margin of $92,500. Martson Molders currently sells a molding machine that will allow Concord Pix to increase production and sales to 12,000 frames per year. The machine, which has a ten-year life, sells for $135,000 and would cost $10,000 per year to operate. Concord Pix's current machine costs only $8,000 per year to operate. If Concord Pix purchases the new machine, the old machine could be sold at its book value of $5,000. The new machine is expected to have a salvage value of $19,900 at the end of its ten-year life. Concord…
Find the rate percent for the following values. new amount $5; original amount $20 The rate percent is %. (Type an integer or a decimal.)
Round the answer to the nearest dollar
13. Determine the median of the set of values. Round to the nearest tenth when applicable. 52 39 27 88 73 90 13 96 21 19 19

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..... cent as needed. Round all intermediate values to six decimal places as needed.)