Homework Help is Here – Start Your Trial Now!
Business
Finance
1. Calculate the simple interest rate when P= $3600 I= $160 and4 months. Round to the nearest hundredth. a. 13.33% b. 0.13% C. 1.11% d. 4.00% e. 4.44%

1. Calculate the simple interest rate when P= $3600 I= $160 and4 months. Round to the nearest hundredth. a. 13.33% b. 0.13% C. 1.11% d. 4.00% e. 4.44%

Essentials Of Investments
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
See similar textbooks
icon
Related questions
Question
1. Calculate the simple interest rate when P= $3600 I= $160 and=4 months. Round to the Section nearest hundredth. 4 a. 13.33% b. 0.13% C. 1.11% d. 4.00% e. 4.44% 2. Calculate the simple interest due on a four-month loan of $900 if the interest rate is 2.270 per month. a. $79.20 b. $7,920.00 c. $237.60 d. $6.60 e. $979.20 3. The maturity value of a three-month loan of $2,500 is $2,577. Find the simple annual interest rate to the nearest hundredth. a. 12.32% b. 11.95% c. 3.70% d. 97.01% e. 3.08% 4. What interest will be earned if $4000 is invested for 4 years at an annual rate of 7% compounded monthly? a. 5,288.22 b. 4,094.15 c. 4,166.22 d. 5,120.00 e. 6,501.65 A = $26,000 r =9% 5. Calculate the present value when compounded quarterly, and 1= 30 years. Round to the nearest cent.
Transcribed Image Text:1. Calculate the simple interest rate when P= $3600 I= $160 and=4 months. Round to the Section nearest hundredth. 4 a. 13.33% b. 0.13% C. 1.11% d. 4.00% e. 4.44% 2. Calculate the simple interest due on a four-month loan of $900 if the interest rate is 2.270 per month. a. $79.20 b. $7,920.00 c. $237.60 d. $6.60 e. $979.20 3. The maturity value of a three-month loan of $2,500 is $2,577. Find the simple annual interest rate to the nearest hundredth. a. 12.32% b. 11.95% c. 3.70% d. 97.01% e. 3.08% 4. What interest will be earned if $4000 is invested for 4 years at an annual rate of 7% compounded monthly? a. 5,288.22 b. 4,094.15 c. 4,166.22 d. 5,120.00 e. 6,501.65 A = $26,000 r =9% 5. Calculate the present value when compounded quarterly, and 1= 30 years. Round to the nearest cent.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Inflation and Interest Rate
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS