A $34, 223 simple interest note was dated August 14, and earned 14.79% exact interest for 78 days. Find the maturity value of the note. (Give your answer to the nearest cent.)
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- An interest-bearing note for 118 days at 6.4% p.a. simple interest has a face value of $4053. If the note is settled in 50 days at a discounted rate of 12.5% p.a., calculate the proceeds. Write your answer rounded to two decimal places. Answer:Calculate the missing information for the loan. Round percents to the nearest tenth and days to the next higher day when necessary. Principal Rate(%) Time(days) InterestMethod Interest Maturity Value(in $) $15,000 13 days Ordinary $730A 60-day, 9% note for $10,000, dated May 1, is received from a customer on account. Use 30 day months and 360 day years in calculations of interest. The maturity value of the note is:
- A 102-day note for $85 bears simple interest at 4.5% and is sold 22 days before maturity to a bank that uses a simple interest rate of 8%. What are the proceeds?Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal Rate (%) Time Interest $24,000 % 60 days $396The balance on a credit card, that charges a 12% APR interest rate, over a 1 month period is given in the following table: Days 1-3: $150 (initial balance) Days 4-20: $200 ($50 purchase) Days 21-30: $50 ($150 payment) What is the finance charge, on the average daily balance, for this card over this 1 month period? finance charge = $ [?] Round to the nearest hundredth.
- Average Daily Balance Interest Calculation IS The balance on a credit card, that charges a 10.5% APR interest rate, over a 1 month period is given in the following table: Days 1-3: Days 4-20: $200 ($50 purchase) Days 21-30: $50 $150 (initial balance) ($150 payment) What is the finance charge, on the average daily balance, for this card over this 1 month period? finance charge = $ [ ? ] Round to the nearest hundredth. Enter mht©2003 - 2021 Aceļlus Corporation. All Rights Reserved.Compute the maturity value for each of the following notes: Required: 1. A note payable with a face amount of $31,000, dated June 15, 20X1, due in three months, bearing interest at 4 percent. 2. A note payable with a face amount of $25,000, dated May 5, 20X1, due in 30 days, bearing interest at 6 percent. Complete this question by entering your answers in the tabs below. Required 1 Required 2 A note payable with a face amount of $31,000, dated June 15, 20X1, due in three months, bearing interest at 4 percent. (Round your "Interest rate" answer to two decimal places. i.e., 1% should be entered as 0.01.) Fraction of Principal x Interest Rate x Interest Year Maturity ValueThe balance on a credit card, that charges a 10.5% APR interest rate, over a 1 month period is given in the following table: Days 1-3: $150 (initial balance) Days 4-20: $200 ($50 purchase) Days 21-30: $50 ($150 payment) What is the finance charge, on the average daily balance, for this card over this 1 month period? finance charge = $ [ ? ] %3D Round to the nearest hundredth. Enter 3- 2021 Acelu Corporation All Rights Reserved.
- You were offered either a simple interest note or a simple discount note with the following terms: $33,353 at 7% for 18 months.a. Calculate the effective interest rate. (Do not round intermediate calculations. Round your final answer to the nearest tenth percent.) Effective Interest Rate %The face value of a single discount note is $12,000. The discount is 6½% for 90 days. Use ordinary interest. Calculate the following:A.Amount of interest charged for each noteB.Amount borrower would receiveC.Amount payee would receive at maturityD.Effective rate (to the nearest tenth percent)The interest charged on a $222000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.) $3330. $1110. $13320. $6660.