complete the following using ordinary interest. (use days in a year table.) (don not round intermediate calculation. round the "interest and maturity value " to the nearest cente.) Principal=$585 interest rate= 9% Date borrowed-June 05 Date returned- Dec 15 Exact time -193 days Interest = ? Maturity value =?

complete the following using ordinary interest. (use days in a year table.) (don not round intermediate calculation. round the "interest and maturity value " to the nearest cente.) Principal=$585 interest rate= 9% Date borrowed-June 05 Date returned- Dec 15 Exact time -193 days Interest = ? Maturity value =?

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

See similar textbooks

Related questions

Q: Use the compound-interest formula to find the account balance A, where P is principal, r is interest…

A: Future Value: A present asset's future value, abbreviated as FV, is the value that asset is…

Q: Fill in the missing information. 1. Missing Dates: Encode the date in this format: mm/dd 2.…

A: The rate at which interest is paid by the borrower on loan amount is known as interest rate.…

Q: Enter the missing piece of information, assuming the interest calculated is simple interest and the…

A: Simple interest The method used to calculate interest on borrowing or lending is called simple…

Q: Complete the following table by using Table 15.1. (Do not round intermediate calculations. Round…

A: Mortgage amount (L) = Selling price - Down payment = $237000 - $47400 = $189600 r = 6% = 0.5% per…

Q: Compute the future values of the following annuities first assuming that payments are made on the…

A: An annuity is a series of payments made at equal intervals.An ordinary annuity involves payments at…

Q: Calculate the missing information for the loan. Round percents to the nearest tenth and days to the…

A: Maturity value The amount to be paid to the holder of a bond at the time of the maturity of the bond…

Q: Use MV = P(1 + RT) to find the maturity value (in $) of the loan. (Round your answer to two decimal…

A: There are two types of interest rate simple interest and compounding interest. Simple interest no…

Q: 3. Find the amount (in $) of interest and the maturity value of the loans. Use the formula MV = P…

A: Solution:- When an amount is invested somewhere, it earns interest and the amount receivable at…

Q: Principal Interest Rate Date of Note Term Maturity Date Maturity Value Date of Discounting Discount…

A: Maturity date is the date on which the bond is redeemed by the firm. On this date, maturity value of…

Q: Exercise 9-4 Interest-bearing notes payable with year-end adjustment Keesha Co. borrows $230,000…

A: Answer 1) Calculation of maturity date of notes payable Maturity date of note = Issue date of note +…

Q: Calculate the missing information for the loan. Round percents to the nearest tenth and days to the…

A: The loan is an agreement between the two parties, In which one party is a loan provider and the…

Q: Compute the present values of the following annuities first assuming that payments are made on the…

Q: Calculate the missing information for the loan. Round percents to the nearest tenth and days to the…

A: In the exact method this calculation of simple interest is done based on the year as 365 days and…

Q: (15) 00 (11) quarterly (12) (13) 6. (14) 8,8 Semi- D00 11% (16) (17) (18) (19) 10,000 (2 annually…

A: More is the compounding more is the effective interest rate and hence future value increases with…

Q: Calculate the missing information for the loan. Round percents to the nearest tenth and days to the…

A: We need to use simple/ordinary/exact interest formula to solve this problem Simple interest(exact)…

Q: Maturity Value (in $) Rate Time Interest Principal Interest (%) (days) Method $3,100 % 167 Exact…

A: Interest expense: It is the interest which is incurred by the organization on the debt taken by it.…

Q: Maturity Value (in $) Rate Time Interest rincipal Interest (%) (days) Method $3,500 168 Exact $220…

A: Solution: Maturity value = principal + interest = 3500 + 220 = $3,720

Q: The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future…

A: In a simple interest, the interest is not compounded.Future value under simple interest =…

Q: Instructions: Fill in the missing information. 1. Missing Dates: Encode the date in this format:…

A: The concept of time value of money states that value of money at present is more than that from…

Q: ompute the future values of the following annuities first assuming that payments are made on the…

A: The future value of the annuity is the value at future of all the future cash flows to be received…

Q: Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round…

A: We are assuming here in ordinary interest calculation number of days to be taken as 360 in one year.…

Question

complete the following using ordinary interest. (use days in a year table.) (don not round intermediate calculation. round the "interest and maturity value " to the nearest cente.)

Principal=$585

interest rate= 9%

Date borrowed-June 05

Date returned- Dec 15

Exact time -193 days

Interest = ?

Maturity value =?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest rate date borrowed date repaid exact time interest Maturity value $1,325 12% July 12 January 08 TABLE 7.1 Exact days-in-a-year calendar (excluding leap year)* Day of month 31 January 28 February 31 March 30 April 31 May 30 June 31 July 31 August 30 September 31 October 30 November 31 December 1 1 32 60 91 121 152 182 213 244 274 305 335 2 2 33 61 92 122 153 183 214 245 275 306 336 3 3 34 62 93 123 154 184 215 246 276 307 337 4 4 35 63 94 124 155 185 216 247 277 308 338 5 5 36 64 95 125 156 186 217 248 278 309 339 6 6 37 65 96 126 157 187 218 249 279 310 340 7 7 38 66 97 127 158 188 219 250 280 311 341 8 8 39 67 98 128 159 189 220 251 281 312 342 9 9 40 68 99 129 160 190 221 252 282 313 343 10 10 41 69 100 130 161 191 222 253 283 314 344 11 11…
Complete the following, using exact interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.) Principal Interest rate Date borrowed Date repaid Exact time Interest Maturity value $650 5% June 21 Dec. 24 $ %24 3 of 14
Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest Rate Date borrowed date repaid exact time interest maturity $1,400 9% March 09 June 11
Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest rate 1,330 6% Date borrowed June 27 Date repaid January23 Exact time Interest Maturity value
Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.) Maturity value Principal Interest rate Date borrowed Date repaid $1,500 Exact time Interest 8% Mar. 12 June 15 95 %24 %24 **** T:..
Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest rate 1,700 6% March 07 Date borrowed Date repaid Exact time June 10 Interest Maturity value
Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal interest rate date borrowed date repaid exact time interest maturity value $1,500 12% May 15 January 16
Complete the following, using exact interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.) Principal Interest rate Date borrowed Date repaid Exact time Interest Maturity value $ 670 8% June 8 Dec. 11
Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest rate 2,400 9% Date borrowed March 05 Date repaid Exact time June 15 Interest Maturity value
Complete the following, using exact interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest rate 5% 590 Date borrowed Date repaid Exact time June 10 December 12 Interest Maturity value
Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal $ 1,328 Interest rate 5% Date borrowed June 08 Date repaid January 19 Exact time Interest Maturity value
43. Complete the following, using exact interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal Interest rate Date borrowed Date repaid Exact time Interest Maturity value $1,000 8% March 08 June 09 TABLE 7.1 Exact days-in-a-year calendar (excluding leap year)* Day of month 31 January 28 February 31 March 30 April 31 May 30 June 31 July 31 August 30 September 31 October 30 November 31 December 1 1 32 60 91 121 152 182 213 244 274 305 335 2 2 33 61 92 122 153 183 214 245 275 306 336 3 3 34 62 93 123 154 184 215 246 276 307 337 4 4 35 63 94 124 155 185 216 247 277 308 338 5 5 36 64 95 125 156 186 217 248 278 309 339 6 6 37 65 96 126 157 187 218 249 279 310 340 7 7 38 66 97 127 158 188 219 250 280 311 341 8 8 39 67 98 128 159 189 220 251 281 312 342 9 9 40 68 99 129 160 190 221 252 282 313 343 10 10 41 69 100 130 161 191 222 253 283 314 344 11 11 42…

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS