Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19,635 at 10% for 4 years. Use ordinary interest as needed. a. Calculate the simple interest note proceeds. Simple interest note proceeds b. Calculate the simple discount note proceeds. Simple discount note proceeds

Q: Joe Borowski invested $10,500 in a mutual fund one year ago. During the year, his fund increased in…

A: Given data: The amount invested by Joe in a mutual fund is P=$10,500. The interest gained by Joe is…

Q: What was the interest rate on a 2-year loan of $500 if the simple interest paid was $120 type your…

A: In this question we are given with principal and interest paid for 2 years and we have to find the…

Q: Nina and Michael have been approved for a $300,000 30-year mortgage with an APR of 5.25%. How much…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Mr. Dan Dapper received a statement from his clothing store showing a finance charge of $2.30 on a…

A: Given Information - Finance charge on previous balance = $2.30 Previous Balance = $100 We have to…

Q: Three years ago, Pete took out a loan of $55,000.  The loan was taken out for 10 years with an…

A:

Q: Lauren would like to have $55,000 saved 10 years from now. If she finds an account that offers a…

A: Let the initial investment be P. The compound interest formula for quarterly is A=P1+r44twhere…

Q: National Storage paid a dividend of $1.90 per share last year. If yesterday's closing price was…

A:

Q: A bank deposit paying simple interest at the rate of 8%/year grew to $1200 in 10 months. Find the…

A:

Q: Patricia and Joe Payne are divorced. The divorce settlement stipulated that Joe pay $540 a month for…

A:

Q: Mr. Dan Dapper received a statement from his clothing store showing a finance charge of $2.10 on a…

A: Solution is given below:-

Q: Larry purchased a new combine that cost $270,500, minus a rebate of $4,500, a trade-in of $7,500,…

A:

Q: Kayla would like to have $10,000 saved 15 years from now. If she finds an account that offers a…

A:

Q: A man made a loan of $102 to be repaid with $129 at the end of 5 months. What was the annual…

A: Ans-In this question we have to find the simple interest rate . Simple Interest=P×R×T100

Q: A math teacher won a lottery that pays $1,000 per month for the next 20 years. But, he prefers to…

A: To find out the amount that the teacher will accept now.

Q: Suppose that you decide to buy a car for $24,635, including taxes and license fees. You saved $6000…

A: Simple interest formula for an amount P at an interest rate of r% for t years is given by the…

Q: The father has just donated $25,000 to a church. His son would like to donate an equivalent amount,…

A: Given;  Principal =$ 25000 Time = 5 years  Rate = 8.2%.

Q: Paul Peters received a statement from the ABC Department Store showing a previous balance of $90. If…

A: Interest = (Rate of interest × Amount× Time)/100 Amount = $90 ROI = 2.5% Time = 1 Month

Q: Toni Torres wants to save $1,200 in the next two years to use as a down payment on a new car. If her…

A:

Q: Eight years ago, Natalia purchased a 8.25% bond for $1,000 plus brokerage fees totaling $150.…

A: The objective of this question is to calculate Natalia's rate of return on her bond investment. The…

Q: Three years ago, Pete took out a loan of $55,000.  The loan was taken out for 10 years with an…

A:

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: Jeremy has a credit card with an unpaid balance of $1,210. If he is charged an interest rate of…

A: The objective of this question is to calculate the finance charge for the month on Jeremy's credit…

Q: Nicole Lieu received $25,000 from the sale of an investment on April 1. She will need $8,441 on…

A:

Q: Eight years ago, Natalia purchased a 8.25% bond for $1,000 plus brokerage fees totaling $150.…

A: The objective of this question is to calculate Natalia's rate of return on her bond investment. The…

Q: Eight years ago, Natalia purchased a 8.25% bond for $1,000 plus brokerage fees totaling $150.…

A: The objective of this question is to calculate Natalia's rate of return on her bond investment. The…

Q: You Work for a great company and love your job. However, the companies new, and you found out that…

A:

Q: Mary and Kevin buy a vacation home for $350,000 down and take out a 15- year mortgage for the…

A: