#1 Shae likes to work on cars and signs a simple interest note with a maturity value of $ 62000 at 7.7% for 275 days to open an auto repair shop. Find the principal and the interest. (Assume a 360-day year.) ANSWER
#1 Shae likes to work on cars and signs a simple interest note with a maturity value of $ 62000 at 7.7% for 275 days to open an auto repair shop. Find the principal and the interest. (Assume a 360-day year.) ANSWER
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 28P
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#1 Shae likes to work on cars and signs a simple interest note with a maturity value of $ 62000 at 7.7% for 275 days to open an auto repair shop. Find the principal and the interest. (Assume a 360-day year.) ANSWER
#2 A company borrows $4000 at 15.6% for 60 days. Find the amount of interest due and the maturity value after
60 days. ANSWER
#3 In order to start a small business, a student takes out a simple interest loan for $7000.00 for 6 months at a rate of 12.25 %.
Find the
The future value is $ ? ANSWER
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