n May 4 Ariel signed a simple discount note for $3,500 at 31/2% for 60 days. Calculate the proceeds she will receive on May 4. Calculate the amount she will pay at maturity Determine the date it will be du
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On May 4 Ariel signed a simple discount note for $3,500 at 31/2% for 60 days.
- Calculate the proceeds she will receive on May 4.
- Calculate the amount she will pay at maturity
- Determine the date it will be due.
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- On May 4 Ariel signed a simple discount note for $3,500 at 31/2% for 60 days. Use the simple interest formula to calculate the amount of interest Ariel will pay using ordinary interest.On March 12, Nada joined a saving account. Her bank will automatically deduct BD 200 from her checking account at the end of each month, and deposit it into her saving account, where it will earn 5 % annual interest. The account comes to term on December 1. Find the following: a. Find the future value of Nada’s saving account. b. Find Nada’s total contribution to the account. c. Find the total interest earned on the account.On March 12, Nada joined a saving account. Her bank will automatically deduct BD 200 from her checking account at the end of each month, and deposit it into her saving account, where it will earn 5 % annual interest. The account comes to term on December 1. Find the following: a. Find the future value of Nada’s saving account. b. Find Nada’s total contribution to the account. c. Find the total interest earned on the account. a. a.1899 b.1800 c. 99 BD b. a.1949 b.1900 c. 49 BD c. a.1149 b.1100 c. 49 BD d. a.1829 b.1800 c. 29 BD e. a.2839 b.2800 c. 39 BD
- On August 19, Siobhan O’Sullivan started an ordinary annuity. She arranged to have $150 deducted from her end-of-month paychecks. The money would earn 6 7/8 % interest compounded monthly. a) Find the future value of the account on December 1.b) Find Siobhan’s total contribution to the account.c) Find the total interest earned.On September 19, Lynn Knight joined a Christmas club. Her bank will automatically deduct $100 from her checking account at the beginning of each month and deposit it into her Christmas club account, where it will earn 6% interest. The account comes to term on December 1.(a) Find the future value of the account, using an annuity formula. (Round your answer to the nearest cent.)$ (b) Find the future value of the account, using the compound interest formula. (Round your answer to the nearest cent.)$ (c) Find Lynn's total contribution to the account.$ (d) Find the total interest. (Round your answer to the nearest cent.)$On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $120 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 67% interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity. $ X (b) Interpret the present value of the given annuity. You would have to invest a lump sum of $ X now instead of $120 per month.
- On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $120 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 6 7/8% interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity.(b) Interpret the present value of the given annuity.On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $135 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 6 7/8% interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity.(b) Interpret the present value of the given annuity. You would have to invest a lump sum of $ now instead of $135 per month.Ja’Mila makes a $350 purchase with her new credit card. The card has a 21% annual interest rate and $35.00 minimum payment due on the 10th of every month. Given that her starting balance is $350, if she pays the minimum payment by October 5th, what amount, to the nearest cent, is applied to interest? $ What amount, to the nearest cent, is applied to the principal? $
- On July 3, Sherri signed a 3-month, $12,000 simple interest loan earning . Find the maturity date, interest, and maturity value. Interest is 12.5%.On May 11, Ali joined a gulf club. His bank will automatically deduct BD 120 from his checking account at the end of each month, and deposit it into his gulf club account, where it will earn 8% annual interest. The account comes to term on October 7. Find the following: a. Find the future value of Ali's gulf club account. b. Find Ali's total contribution to the account. C. Find the total interest earned on the account.On September 8, Bert Sarkis joined a Christmas club. His bank will automatically deduct $65 from his checking account at the end of each month and deposit it into his Christmas club account, where it will earn 7% interest. The account comes to term on December 1. (a) Find the future value of the account, using an annuity formula. (Round your answer to the nearest cent.) $ (b) Find the future value of the account, using the compound interest formula. (Round your answer to the nearest cent.) $ (c) Find Bert's total contribution to the account. $ (d) Find the total interest. (Round your answer to the nearest cent.) $