Determine the ordinary and exact simple interest on P5,000.00 for the period from January 15 to June 201993 if the rate of simple interest is 14%.Ordinary Simple Interest is P Blank 1Exact Simple Interest is P Blank 2Blank 1Add your answerBlank 2Add your answer

Principal amount = P 5,000.00 Interest rate = 14% Period from January 15 to June 20 = 156 Days

Answered: Determine the ordinary and exact simple…

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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Compound Interest on $100, Compounded Daily (365 Days) (Exact Time, Exact Interest Basis) Annual rate for selected rates Days 1.00% 1.50% 1.25% 0.001370 0.002055 | 0.002740 0.003425| 0.004110 |0.004795 0.006849 0.50% 0.75% 1.75% 2.00% 2.25% 2.50% 0.005479 0.010959 1 0.006164 0.006849 0.002740 0.004110 0.006165 0.008219 0.009589 0.014384 0.005480 0.008219 0.012329 0.013699 3 0.004110 0.008219 0.010274 0.012329 0.016439 0.018494 0.020549 4 0.005480 0.010959 0.013699 0.016439 0.019179 0.021920 0.024660 0.027400 0.006850 0.010274 | 0.013699 0.008219 0.012329| 0.016439 0.014384 0.019180 0.021920 0.024660 0.017124 0.020550 0.023975 0.027400 0.034251 0.030826 0.036992 0.043159 0.049326 0.054808 0.024660 0.028771 6 0.020550 0.028771 0.032881 0.041103 7 0.010959 0.038362 0.043844 0.049326 0.009589 0.023975 0.033566 0.047955 0.016440 0.027401 0.032881 0.038363 0.018495 0.020550 0.022605 0.024660 0.017810 | 0.026716 9. 0.012329 0.030826 0.036992 0.043159 0.055493 0.061661 0.013699 0.015070…
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A B E 2 Determine the maturity date and compute interest for each note. 3 Days to be used per year 360 days 4 Note Contract Date Principal Interest Rate Period of Note (Term) 6. 1 1-Mar $10,000 6% 60 days 7 2 15-May 15,000 8% 90 days 8 3 20-Oct 8,000 4% 45 days 9. 10 Required: 11 12 (Use cells A5 to F8 from the given information to complete this question.) 13 14 Note Contract Date Maturity Date Interest Expense 15 16 17 3 18
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Q 2 To borrow $750, you are offered an add on interest loan at 9.1 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.) EQUAL PAYMENTS? Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your answer to 2 decimal places.) EAR?
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Determine the ordinary and exact simple interest on P5,000.00 for the period from January 15 to June 20 1993 if the rate of simple interest is 14%. Ordinary Simple Interest is P Blank 1 Exact Simple Interest is P Blank 2 Blank 1 Add your answer Blank 2 Add your answer