Dave borrowed $550 on January 1, 2022, and paid it all back at once on December 31, 2022. The bank charged him a $3.50 service charge, and interest was $40.70. What was the APR? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Annual percentage rate

Dave borrowed $550 on January 1, 2022, and paid it all back at once on December 31, 2022. The bank charged him a $3.50 service charge, and interest was $40.70. What was the APR? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Annual percentage rate

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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Answer the following (up to two decimal points) by showing the working calculation. The rates of the months for 2018 are shown in the table below. There are 28 days in February and assume you withdraw hibah at the end of each month. Any positive or negative increment in the monthly rates shown is based on the basic rate. You open a new wadiah account with a deposit of RM5000 on 28.01.2018. You deposit another RM1000 and RM5500 on 13.02.2018 and 30.03.2018 respectively. Again, you deposit another RM1550 on 31.05.2018. Then, you deposit another RM8500 on 10.06.2018 but withdraw RM5000 on 28.06.2018. On 15.12.2018, you withdraw another RM2000 from the account and then withdraw again another RM3250 on 28.12.2018. What will be your total hibah on 30.12.2018? Table 1: Monthly rates Month Rate (%) Jan 4.00%* Feb +0.00% March +0.10% April -0.10% May +0.10% June +0.20% July -0.10% Aug +0.20% Sept +0.10% Oct +0.20% Nov -0.10% Dec +0.00% * Basic rate 2. Suggest two (2) financial instruments or…
jeremy opened a CD (certificate of deposit) on April 3, 2018 with an interest rate of 4.65% compounded weekly. How much was initially deposited if Jeremy checks his account on December 5, 2018 and discovers the account balance is $3614? Round your answer to the nearest cent.
Mr. Husker's Tuxedos Corp. ended the year 2021 with an average collection period of 32 days. The firm's credit sales for 2021 were $56.1 million. What is the year-end 2021 balance in accounts receivable for Mr. Husker's Tuxedos? (Enter your answer in dollars not in millions. Use 365 days a year.)
Dineshbhai
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K On April 1, Hilda made a $2680 deposit to open a savings account paying 3% compounded daily. She then deposited $200 on May 2 and $630 on May 25. Find the balance on June 30 and the interes earned through that date. Click here to view the 3.5% compound interest table. Click here to view the 3.5% compound interest by quarters table View On June 30, what is the balance in the account? S (Round to the nearest cunt as needed.) - X 3.5% Interest Compounded Daily by Quarter Table 1 Interest by Quarter for 3 % Compounded Daily Assuming 90-day Quarters Number of Quarters. Value of (1+i) 1.008667067 1.017409251 1.026227205 1.035121505 3.5% Interest Compounded Daily Table Number R 1 2 3 4 5 6 7 8 9 10 11 12 13 Values of (1+1) for 3% Compounded Daily Valec of Value of 1.000095890 19 35 (1+1) It (1+i) A 1001823491 37 1.003554076 38 1003650307 56 1003746548 57 1000191790 20 1001919556 1.000287699 21 100201 5631 1.000383617 22 1.002111714 1003842797 1000479544 23 1002207807 41 1003939056 59…
The amount in the account is $? Round to the nearest cent if neccessary.
A man made a loan of $102 to be repaid with $129 at the end of 5 months. What was the annual (simple) interest rate in %? (write your final answer in % and round it off to two decimal places) Round your answer to 2 decimal places.
Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each month, $130 is electronically debited from his checking account and placed into a savings account earning 6% interest compounded monthly. What is the value (in $) of Jorge's account after 16 months? (Round your answer to the nearest cent.)
The opening balance of a savings account for June is $2,966. On June 9, $140 was withdrawn from the account. If the account pays simple interest at 1.15% based on the daily closing balance, how much interest is deposited on July 1? For full marks your answer should be rounded to the nearest cent. Interest = $0.00
DaNeeka deposits $141 at the end of every month into an account that earns 2.91% compounded semi- annually. Find the accumulated value, and interest earned in 6 years and 6 months. Round all answers to two decimal places if necessary. P/Y = PV = $ Interest Earned = $ C/Y= PMT= S N = FV = $ 1/Y = % (round to the nearest cent); (enter a positive value, rounded to the nearest cent)
K Mahadeus opened an RRSP deposit account on December 1, 2008, with a deposit of $2300. He added $2300 on April 1, 2010, and $2300 on January 1, 2012. How much is in his account on October 1, 2016. if the deposit earns 6.7% pa compounded monthly? (3) The amount in the account is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed) Clear all

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