9) Ryan McPherson borrowed P3,500 on June 15 at 11% interest. If the loan was due on October 9, what was the amount of interest and the maturity value on Ryan's loan? (Use exact interest method) 10) What is the maturity date of a loan taken out on April 14 for 85 days? 1) On April 12, Michelle Lizaro borrowed P5,000 from her credit union at 9% for 800 days. The credit union uses me ordinary interest method. How much is the maturity value?

9) Ryan McPherson borrowed P3,500 on June 15 at 11% interest. If the loan was due on October 9, what was the amount of interest and the maturity value on Ryan's loan? (Use exact interest method) 10) What is the maturity date of a loan taken out on April 14 for 85 days? 1) On April 12, Michelle Lizaro borrowed P5,000 from her credit union at 9% for 800 days. The credit union uses me ordinary interest method. How much is the maturity value?

Name: 9) Ryan McPherson borrowed P3,500 on June 15 at 11% interest. If the
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Description: 9) Ryan McPherson borrowed P3,500 on June 15 at 11% interest. If the loan was due on October 9, what was theamount of interest and the maturity value on Ryan's loan? (Use exact interest method)10) What is the maturity date of a loan taken out on Apr

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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Similar questions

On April 16, Anthony borrowed$1279 to buy a new laptop. The loan had a simple interest rate of 3.8% and was for 225 days. Anthony made a partial paymentof$700 on July 19. How much will Anthonyowe on the date of maturity of the loan?
Dave took out a $5800 loan at 11% and eventually repaid $7714 (principal and interest). What was the time period of the loan? The time period of the loan was year(s). (Type an integer or a decimal.)
On March 24, 2014, Brendan and Madison borrow $18,000 each at a simple interest rate r = 12%. Brendan’s bank calculates interest using exact interest, while Madison's bank uses the Banker's Rule (ordinary interest). Let X = amount Brendan pays back on September 24, 2014, and Y = amount Madison pays back on September 24, 2014. What is the value of X - Y?
am. 111.
Sarah gave out a loan of $4,500 to a friend on December 11, 2015. The loan was on May 17, 2016 with $140.64 interest. a. What was the time period of the loan expressed in days? days d. Vvnat was tne time period of the loan expressed in days? days b. What was the annual simple interest rate for this loan? Round to two decimal places
On May 6, Jim Ryan borrowed $14,000 from Lane Bank at 7 1/2% interest. Jim plans to repay the loan on March 11. Assume the loan is on ordinary interest. How much will Jim repay on March 11? (Use Days in a year table.) (Round your answer to the nearest cent.) Jim Repay
On May 6, Jim Ryan borrowed $14,000 from Lane Bank at 7% interest. Jim plans to repay the loan on March 11. Assume the loan is on ordinary interest. How much will Jim repay on March 11?LU 16-1(2) Gail Ross met Jim Ryan (Problem 3) at Lane Bank. After talking with Jim, Gail decided she would like to consider the same loan on exact interest. Can you recalculate the loan for Gail under this assumption? LU 16-1(2)
Laura borrowed a total of $18000 from two different banks. one bank charged 6% simple interest and the other 7.5% simple interest. If the total interest after 2 years was $2,220 determine the amount borrowed by both banks. let x represent the principal of the loan business loan 6% then what is the remaining amount borrowed at 7.5%?
Jami's Home Repair borrows $6,000, at 13.75% interest, for 330 days. Use the exact interest method to find the amount of interest that the bank will collect. (Round to the nearest cent.) Ⓒ$600.00 Ⓒ$640.00 $745.89 Ⓒ$8,200.00
Shawn Bixby borrowed $29,000 on a 120-day, 8% note. After 55 days, Shawn paid $3,200 on the note. On day 95, Shawn paid an additional $5,200. Use ordinary interest. a. Determine the total interest use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Total interest b. Determine the ending balance due use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Ending balance due
Jessica borrowed $25,000 on January 15 at a variable interest rate of 5%. On March 22, the rate increased to 6%. 1. How much interest will she pay when she repays her loan on June 15? 2. What is the total amount that she will end up paying for this loan?
Lenny was charged an interest of $850 for a loan of $21,000 that he borrowed for 120 days. What monthly rate of simple interest was charged? 1.03% p.m. 3.95% p.m. 12.31% p.m. 7.67% p.m.

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