Please help me with these two problems: Find the actual interest paid, to the nearest tenth, on the simple discount note
Please Help: Find the actual interest rate paid, to the nearest tenth, on the simple discount note. $1000; discount rate 7.8%; length of loan 6 mo A) 10.1% B) 9.1% C) 7.1% D) 8.1%
Sam Peters needs to calculate the effective interest rate of a simple discount note for $3,600, at an ordinary bank discount rate of 10%, for 130 days. Find the effective interest rate rounded to the nearest tenth of a percent. O A. 10.2% OB. 10.4% O C. 10.5% OD. 3%
You were offered either a simple interest note or a simple discount note with the following terms: $33,264 at 8% for 18 months. Calculate the effective interest rate. (Do not round intermediate calculations. Round your final answer to the nearest tenth percent.) Please help I have been trying to do this problem for an hour and I can't find the correct answer
Find the interest paid on a loan of $2,200 for two years at a simple interest rate of 11% per year. The interest on the loan is $17
A 3-month $25,000 treasury bill with a simple annual discount rate of 0.25% was sold in 2016. Assume 365 days in a year. (a) Find the price of the treasury bill (T-bill). (b) Find the actual interest rate paid by the Treasury. (a) The price of the T-bill was $] (Round to the nearest cent as needed.) A 6-month $20,500 treasury bill with a simple annual discount rate of 0.44% was sold in 2016. Assume 365 days in a year....
Bill Blank signed an $7,540 note at Citizen's Bank. Citizen's charges a 8.2% discount rate. Assume the loan is for 270 days. a. Find the proceeds. (Use 360 days a year. Round your intermediate calculations and final answer to the nearest cent.) Proceeds b. Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.) Effective rate You were offered the opportunity to purchase either...
Simple and Compound InterestFind the simple interest.principal= $870interest rate= 6%time= 9 monthsPlease help me I need the answer for tommorow.
I have a few problems I need help in Finate Math please help me :( I keep getting them wrongQuestionsFind the accumulated amount A if the principal P is invested at the interest rate of r/year for t yr. (Round your answer to the nearest cent.)P = $40,000, r = 7.9%, t = 11, compounded quarterlyA = $Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t yr. (Round your answer...
help me with the ones i got wrong please Amortize Discount by interest Method On the first day of its fiscal year, Ebert Company issued $50,000,000 of 10-year, 7% bonds to finance its operations. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 9%, resulting in Ebert receiving cash of $43,495,895. The company uses the interest method. a. Journalize the entries to record the following: 1. Sale of the bonds. Round to the nearest...
Find the interest rate on a loan charging $765 simple interest on a principal of $3750 after 6 years. __________ Find the simple interest on the loan. $1900 at 8% for 10 years. _________ Find the term of a loan of $225 at 3.5% if the simple interest is $63. __________ Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $16,000 at 4% for 15 years if the interest is compounded in the...