A 6-month $13,500 treasury bill with a simple annual discount rate of 0.41% was sold in 2016. Assume 365 days in a year. (a) Find the price of the treasury bill (T-bill). (b) Find the actual interest rate paid by the Treasury.

Q: A $2200 bond earns 9.3% compounded monthly for 9 years. Determine the amount of the investment at…

A: A $2200 bond earns 9.3% compounded monthly for 9 years.

Q: Determine the value of an account after 10 years if a principal amount of 11000 was deposited with…

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Q: $102 is invested in an annuity at the end of every month at 8.5%.  Find the value of the annuity at…

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Q: Carlos takes out a loan for $10,300, at 8% ordinary interest. If the amount of interest is $329.60,…

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Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Suppose that you decide to buy a car for $32,635, including taxes and license fees. You saved $9000…

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Q: Find the cost of purchasing an annuity that pays $25,000 per year for 20 years. The interest rate is…

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Q: Kelly paid off his student loan in 3 years by making payments of $650 at the beginning of every…

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Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

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Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: suppose you borrow 865 for aterm of three years at simple interest and 5.46% apr. determine the…

A: Given that  Borrowing amount 865 Time period 3 years  Rate of interest 5.46%

Q: A population numbers 12 000 organisms initially and decreases by 4% each year. Suppose P represents…

A: As per the company guidelines we can solve first question. I hope that the given solution will help…

Q: Carlos Menton purchases a new laptop computer from Knox Computer Solutions for $1499. If the sales…

A: Given: Purchase price = $1499 Sales tax rate = 4.25% r = 8.4% = 0.084 t = 3  n = 12 Formula Used:…

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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Q: 4. A student took out a simple interest loan for $2800 for two years at a rate of 6% to purchase a…

A: The simple interest formula is: A=P(1+rt)