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Pandemic Bank charges 4% for discounting loans. If Super Tekla agrees to repay 3,000 in 6 months, how much does he receive now?*

Pandemic Bank charges 4% for discounting loans. If Super Tekla agrees to repay 3,000 in 6 months, how much does he receive now?*

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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  1. Pandemic Bank charges 4% for discounting loans. If Super Tekla agrees to repay 3,000 in 6 months, how much does he receive now?*
  2. To prepare for his retirement in 13 years, Tekla deposited 10,000 in an account paying 9%. Nine years after, he deposited another 10,000. How much will be available at his retirement?*
  3. Find the simple interest earned in an account where 5,000 is on deposit from March 14, 2020 to your birthday next year at 5%. Write your birthday. Use all methods discussed.*
  4. For what rate it is possible for a deposit of 40,000 to earn 8,400 in simple interest if the money is to be left on deposit for 5½ years?*
  5. Find the principal necessary to earn 500 in simple interest if the money is to be left on deposit for 5 years and earns (A) 8.5%; (B) 8%; (c) 7.5%.*
  6. Michelle signs a note for 2,000 due in 9 months at 3%. Three months after the note is signed, the holder of the note sells it to Donita who charges 3.5%. How much does the holder receive?*
  7. Tekla owes 100 due in 5 months and 700 due in 9 months. What single payment in 6 months will discharge these obligations if the settlement is based on an interest rate of 7%?*
  8. Find the time necessary for a deposit of 4,000 to double in an account paying 4½%.

please help me to answer this ASAP. THANK YOU SO MUCH

 

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