QUESTION 6 If I have a simple discount note for 75 days (ordinary interest), a discount of $150, and have proceeds of $11,850, what is the discount rate? 125% 6% 62% 127%

Q: How would you write the official notation for the present value factor for a continuous payment of…

A: Continuous yearly payment: $1 Time period: 45 year  Rate of interest : 5%

Q: You borrow $950 from your brother and agree to pay back $1000 in 19 months. What simple interest…

A:

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: You know you will have $1,000,000 in your account when you retire. You want to be able to take…

A:

Q: In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much…

A:

Q: mple mteiest was eanmed of deposit earned an interest rate of %.

A: In this question, the concept of Simple Interest is applied. Simple Interest Simple interest is a…

Q: On September 12, Jody Hansen went to Sunshine Bank to borrow $2,300 at 9% A.P.R.  Jody plans to…

A: Consider the equation

Q: Suppose you’d like to save enough money to pay cash for your next used car. The goal is to save an…

A: Given that, to save an extra $8000 over the next three years.To find the amount of monthly payments…

Q: You know you will have $25,000,000 in your account when you retire. You want to be able to take…

A:

Q: 2. You purchase a CD for $1000 on which you will earn 2.4% simple interest for each year of the…

A:

Q: Suppose you want to buy a new car that costs ​$32, 900. You have no cash only your old​ car, which…

A: A new car costs $32, 900. You have no cash only your old​ car, which is worth $3000 as a​ trade-in.…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

A:

Q: You purchase a new car for $19,500.             If you borrow $19,500 for 5 years with an interest…

A:

Q: After retiring, you want to be able to take $1000 a month for a total of 15 years from your…

A:

Q: Find the simple interest of $1,000 borrowed at 6% for 4 years.

A: Given: The principal amount = $1000. The rate of interest = 6%. The time =4 years.

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest. How…

A: Given, Future value (FV) = $800,000 Rate of interest (r) = 9% Time (t) = 30 years n = 12 ( months)…

Q: Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. How…

A: Suppose you want to have $500,000 for retirement in 30 years.  Future ValueFV= $500000Time t=30…

Q: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…

Q: Problem 8.8 An investor would like to have $10,000 at the end of 5 years. The annual simple rate of…

A:

Q: You are borrowing $500 at 10% per year interest for 2 years. If this is a simple interest loan, find…

A: Given that the amount borrowed is $500 and rate of interest is 10% for 2 years and the loan is a…