A loan of $10,000 is taken out on November 7, 2020 at a simple interest rate of r= 9%. Theloan will be paid back on May 11, 2021. If the bank uses ordinary interest (the Banker's Rule),how much interest is charged? a $450.00 b $456.16 c $443.84 d $462.50

As per the Banker's Rule, interest is calculated as per the exact time (in days), taking 360 days…

Answered: A loan of $10,000 is taken out on…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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On January 1, 2020, you borrowed S1000 from a bank On December 31, 2020 YON DOO on O N complotely by depositing $1040 ir the rate of innation was 3% the REAL rate of interest on VONGONDN or39 closest fo Select one O 12% O. DO% Oc 1.00% 0.07%
pls refer to the image attached, 1. suppose that you have the capacity to pay, would you rather borrow a loan that is amortized monthly, or one that is amortized quarterly? 2. what is your considerations when availing a loan? (quantitative or qualitative considerations) Discuss.
Zuhoor Muscat Company borrowed RO 240,000 from the bank signing a 8%, 6-month note on October 1, 2020. The recorded amount of accrued interest expense on December 31, 2020 will be: a. None of the options are correct. Ob. RO 40,000. O c. RO 240,000. Od. RO 4,800. O e. RO 9,600. NEXT PAGE 4440 025 Type here to search B. red by ws 10 S acer
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C3.7
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A loan of $10,000 is taken out on November 7, 2020 at a simple interest rate of r = 9%. The loan will be paid back on May 11, 2021. If the bank uses ordinary interest (the Banker's Rule), how much interest is charged? a $450.00 b $456.16 c $443.84 d $462.50