Compute bank discount using: $12,000; 13%; 120 days ordinary interest proceeds effective interest rate to nearest hundredth Do not round the denominator in your calculation. Your answer needs to be in $XXXX format (using the dollar sign.comma, and cents). If the answer is a percent, be sure to format your answer as XXXS

Compute bank discount using: $12,000; 13%; 120 days ordinary interest proceeds effective interest rate to nearest hundredth Do not round the denominator in your calculation. Your answer needs to be in $XXXX format (using the dollar sign.comma, and cents). If the answer is a percent, be sure to format your answer as XXXS

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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Please do not give solution in image format thanku Find the rate. Assume a 360-day year. Time (Days) 185 Principal 3600 The interest rate is %. (Round to the nearest tenth.) Interest 100 Rate
a. If the present value of $153 is $139, what is the discount factor? (Round your answer to 4 decimal places.) Discount Factor 0.9084 b. If that $153 is received in year 5, what is the interest rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Interest rate %
National Savings Bank offers money market accounts with varying interest rates, depending on the balance in the account. For accounts under $10,000, the interest rate is 2.5%; accounts between $10,000 up to and including $25,000 have an interest rate of 3.25%; accounts over $25,000 earn an interest rate of 5%. Write a piecewise function R for the interest earned on an account with x dollars.
You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest) Loan amount Interest Rate $632,000 15.5% Life 49 years Date of Loan January 1, 2021 Use the installment method - not straight line Do NOT round any interrmediate numbers. Do NOT turn this into a monthly problem. Do NOT put in minus signs, answer all positive numbers.
PLEASE Use the correct function on EXCEL
If the annual interest rate is 8%, what is the daily interest rate that would be used as the "r" in the time value of money equation? Hint: the equation uses the decimal equivalent of the percent Enter your answer to four decimal places.
You were offered either a simple interest note or a simple discount note with the following terms: $30,878 at 6% for 36 months. a. Calculate the effective interest rate. Note: Do not round intermediate calculations. Round your final answer to the nearest tenth percent. Effective interest rate % b. Based on the effective interest rate, which would you choose? simple discount note simple interest note
You get a new credit card from your bank. The document that comes with the card informs you that the interest rate on that card is 19.1% APR. What is the effective annual rate you'll actually be paying? The credit card company uses monthly compounding of interest. Enter your answer as a percentage, rounded to 2 decimals, and without the percentage sign ('%'). For example, if your answer is 0.23456, then enter 23.46 21.98
So.2
Check my Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 7%. Use the ordinary interest method. (Use Days in.a year table) (Do not round Intermediate calculations. Round your final answers to the nearest cent.) Maturity value Date of Rate of Interest Length of note Date note discounted Proceede Face value (principal) 60,600 Discount perlod Bank discount note 90 days May 13 |days June 4
a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate $? at the end of each month 3.5% compounded monthly Click the icon to view some finance formulas. a. The periodic deposit is $. (Do not round until the final answer. Then round up to the nearest dollar as needed.) Formulas b. S of the $220,000 comes from deposits and S comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.) A= In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. P[(1+r)²-1] T Time 10 years A= nt P= Financial Goal $220,000 响 nt [(¹-3) - X SEX
Note: Round all answers to the nearest cent when necessary. Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan. Purchase(Cash)Price DownPayment AmountFinanced MonthlyPayment Number ofPayments FinanceCharge TotalDeferredPaymentPrice $3,400 20% $ $247.00 12 $ $

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