Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table.) Note: Use 360 days a year. Do not round intermediate calculations. Round your final answers to the nearest cent. Face value (principal) Rate of interest Length of note $ 25,000 9% 60 days Maturity value Date of note June 8 Date note discounted July 10 Discount period Bank discount
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- Check my Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 7%. Use the ordinary interest method. (Use Days in.a year table) (Do not round Intermediate calculations. Round your final answers to the nearest cent.) Maturity value Date of Rate of Interest Length of note Date note discounted Proceede Face value (principal) 60,600 Discount perlod Bank discount note 90 days May 13 |days June 4RaghubhaiYou are told that a note has repayment terms of $1,700 per quarter for 6 years, with a stated interest rate of 8%. How much of the total payment is for principal, and how much is for interest? Calculate using (a) financial calculator or (b) Excel function PV. (Round answers to 2 decimal places, eg. 5,275.25.) Total payment for principal Total interest Determine if the total interest will be higher or lower than with an annual payment. The total interest will be than with an annual payment.
- What is the effective interest rate of a simple discount note for $27,500,at an ordinary bank discount rate of 10%, for 30 days? Assume that there are 360 days in a year. Question content area bottom The effective interest rate is ??? (Round to the nearest tenth as needed.)Your bank account pays interest with an EAR of 4%. What is the APR quote for this account based on semiannual compounding? What is the APR with monthy son eTe compounding? (Note Be careful not to round any intermediate steps less than sir decimal places) tnmenti What is the APR quote for this account based on semiannual compoundng? The APR quote for the account with semiannual compounding in Round to thre decimal places) ilts Suppose the interest rate is 9.3% APR with monthly compounding What is the prosent value of an annulty that pays $00 every three months for four years? (Note: Be son ete careful not to round any intermedate steps less than six decimal places) pmenti The present value of the annuty is s (Round to the nearest cent) A payday loan is structured to obscure the true interest rate you are paying For example, in Washington, you pay a $32 "lee" for a two-week $205 payday loan (when on ele you repay the loan, you pay $237). What is the effective annual interest rate for…Suppose you deposit $1,030.00 into an account 4.00 years from today. Exactly 13.00 years from today the account is worth $1,677.00. What was the account's interest rate? Submit Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex: 0.09243)) Show Hint
- Complete the following table: (Use Table 15.1.) Note: Do not round intermediate calculations. Round your answers to the nearest cent. selling price down payment amount mortgage rate years monthly payment first payment broken down into interest first payment broken down into principal Balance at end of month $236,000 47,200 $188,800 7.00% 15 Monthly payment is NOT 1694.23 first payment broken down into interest is NOT 1,101.23 first payment principal is NOT 592.90 balance at end is NOT 188,207.10 TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Rate Interest Only 10 Year 15 Year 20 Year 25 Year 30 Year 40 Year 2.000 0.16667 9.20135 6.43509 5.05883 4.23854 3.69619 3.02826 2.125 0.17708 9.25743 6.49281 5.11825 4.29966 3.75902 3.09444 2.250 0.18750 9.31374 6.55085 5.17808 4.36131 3.82246 3.16142 2.375 0.19792 9.37026 6.60921 5.23834 4.42348 3.88653 3.22921 2.500 0.20833 9.42699 6.66789 5.29903 4.48617 3.95121 3.29778 2.625…Suppose you borrow from a bank $1,756.06 today (t=0). You agree to pay back $3,637.64 in 4 years (t=4). The interest rate (%) that the bank charge you is closest to ________%. Input your answer without the % sign and round your answer to two decimal places.1. Use MV = P(1 + RT) to find the maturity value (in $) of the loan. (Round your answer to two decimal places.) Principal Rate (%) Time Maturity Value $5,600 7.4 14 months 2Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent. CompoundAmount Term ofInvestment NominalRate (%) InterestCompounded PresentValue CompoundInterest $6,000 12 years 6 semiannually $ $
- 1.What is the effective interest rate of a simple discount note for $4,500 at a bank discount rate of 14% for 24 months? (Round to the nearest tenth percent.) A. 14.0% B. 19.4% C. 28.0% D. 38.9% 2.Use the ordinary interest method to find the rate of interest that Make Over Picture Photo pays on a loan of $8,000 for 265 days, if the amount of interest is $510.00. (Round your answer to the nearest tenth percent.) A. 7.5% B. 8.4% C. 8.5% D. 8.7%Complete the following table for the simple discount notes. Use the ordinary interest method. Note: Round your answers to the nearest cent. Amount due at maturity discount rate time bank discount proceeds $4,100 6.25% 200 daysSubject - account Please help me. Thankyou.