= Homework: Homework 3QuestBunny's Antiques received $80.00 interest on a 140-day term deposit of $2880. At what rate of interest was the term deposit invested?The interest rate is%.(Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

Annual Interest rate can be calculated as: = Interest earned / Amount invested * (365 / Number of…

Answered: Bunny's Antiques received $80.00…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Compute The present value of a $5500 deposit in year 1, and another $5000 deposit at the end of year 4 using an 8% interest rate. ( do not round intermediate calculations and around your final answer to two decimal places)
Suppose Eli deposits $1,000 into a savings account. The savings account earns4.2% compounded monthly. Find the APY for the account. Round the percent to two decimals.
Solve in digital format step by step If a person deposited $ 1,000 in a fixed-term account at an annual interest rate of 12%, with interest compounded quarterly, and obtained $ 1,194.05 at maturity, how long was the money deposited?
The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $3000 at 5.7% compounded quarterly for 5 years. What is the compound amount?
On June 2, Fat Tires Ltd. borrowed $10,000.00 with an interest rate of 7.6%. The loan was repaid in full on November 14, with payments of $2700 00 on September 1 and $3300.00 on October 3. What was the final payment? The final payment was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
Find the compound amount and the amount of interest earned by the following deposit. $3,000 at 4.77% compounded continuously for 9 years. What is the compound amount? (Round to the nearest cent.)
A loan of $1980 can be repaid in 145 days by paying the principal sum borrowed plus $55 interest. What was the rate of interest charged? The interest rate is%. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
A $2600 certificate of deposit held for 66 days was worth $2623.36. What simple interest rate was earned? Assume a 360-day year. The certificate of deposit earned an interest rate of %. (Type an integer or decimal rounded to the nearest tenth as needed.)
A.Halep Inc. borrowed $17,128 from Davis Bank and signed a 2-year note payable stating the interest rate was 4% compounded annually. Using the Present Value of an Annuity of 1 TABLE4, calculate the factor. Next, determine the annual payment amount. Round to the nearest penny, two decimal places. B.Halep Inc. borrowed $34,243 from Davis Bank and signed a 5-year note payable stating the interest rate was 3% compounded annually. Using the Present Value of an Annuity of 1 TABLE4, what is the factor?

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Bunny's Antiques received $80.00 interest on a 140-day term deposit of $2880. At what rate of interest was the term deposit invested? The interest rate is %. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)