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
Related questions
Question
1. What is the maturity date of a loan taken out on May 16, for 53 days?
A. June 30
B. July 1
C. July 8
D. August 9
2.
The financial officer of Toys and Noise arranges a loan of $8,500, at 8.5% interest, for 35 months. Find the amount of simple interest. (Round to the nearest cent.)
A. $1,445.00
B. $2,107.29
C. $2,528.75
D.$2,914.29
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