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 rate1,7006%March 07Date borrowed Date repaid Exact timeJune 10InterestMaturity value

Step 1: Compute for the exact time. Use this tableMarch31 (-7 days)April30May31June30 (-20 days,…

Answered: Complete the following, using ordinary…

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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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
Just as a heads up in the question it mentions ordinary interest, ordinary interest is 360 days instead of the full 365 days a year
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
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 $ 2,900 Interest rate 9% Date borrowed May 21 Date repaid August 9 Exact time 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 $ 2,100 Interest rate 5% Date borrowed May 9 Date repaid August 14 Exact time Interest Maturity value
Maturity Dates of Notes PayableDetermine the maturity date and compute the interest for each of the following notes payable with add-on interest:Use 360 days for calculations and round to the nearest dollar. Date of note Principal Interest Rate (%) Term a. August 5 $17,000 8% 120 days b. May 10 10,400 7% 90 days c. October 20 14,000 9% 60days d. July 6 6,500 10% 75 days e. September 15 15,500 8% 75 days For the maturity date, select the appropriate month using the drop-down menu and enter the correct day next to the month using the fill-in the blank answer box. Maturity Date Interest a. Answer Answer Answer b. Answer Answer Answer c. Answer Answer Answer d. Answer Answer Answer e. Answer Answer Answer
For the case shown in the following table, determine the amount of the equal, end of year deposits necesssary to accumulate the given sum at the end of teh specified period, assuming the stated annual interest rate. Sum to be accumulated Accumulation Period (Years) Interest Rate $124,600 20 11%
Calculate the simple interest and maturity value. Note: Do not round intermediate calculations. Round your answers to the nearest cent. $ Principal 5,000 Interest rate 3% Time 15 month Simple interest Maturity value
The face value of a ten month, 7.3% note dated February 28, 2006, is $1419 85 Determine each of the tems isted below Ignore any grace period (a) the legal due dato (b) the interest period (in days) (c) the amount of interest (d) the maturity value (a) The legal due date is February 28 2006 (b) The interest period is 304 days. (Type a whole number.) (e) The amount of interest is payable is S (Round the final answer to the nearest cent as needed. Round al intermediate values to sox decimal places as needed) (d) The maturity value of the note is (Round the final answer to the nearest cent as needed Round all intermediate values to sox decimal places as needed)
A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The effective date is the date the note was written.) Assume the year is not a leap year. Principal $7000 Rate 3% Effective Date July 15 Partial Payment Date Dec. 24 Amount $4000 Maturity Date Feb. 1
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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

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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