MMA MATHEMATICAL ASSOCIATION OF AMERICA Simple and Compound Interest / 5 Previous Problem Problem List Next Problem HW 20 Simple and Compound Interest: Problem 5 (5 points) Consider a $700 T-bill calculated as a simple discount loan. The annual simple discount rate is 2% and the length is set to be 13 months. Find the price of the T-bill, the interest earned, and the simple interest rate paid on the bill. Price of the T-bill= dollars. Total interest earned when $700 T-bill is redeemed = dollars. Simple interest rate earned = percent (round to 2 decimal places). Note: You can earn partial credit on this problem. Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining. Page generated at 05/04/2024 at 02:46pm EDT WeBWorK 1996-2022 theme: math4-green | www.version: 2.17 Pg version 2.17 | The WaßWork Project
MMA MATHEMATICAL ASSOCIATION OF AMERICA Simple and Compound Interest / 5 Previous Problem Problem List Next Problem HW 20 Simple and Compound Interest: Problem 5 (5 points) Consider a $700 T-bill calculated as a simple discount loan. The annual simple discount rate is 2% and the length is set to be 13 months. Find the price of the T-bill, the interest earned, and the simple interest rate paid on the bill. Price of the T-bill= dollars. Total interest earned when $700 T-bill is redeemed = dollars. Simple interest rate earned = percent (round to 2 decimal places). Note: You can earn partial credit on this problem. Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining. Page generated at 05/04/2024 at 02:46pm EDT WeBWorK 1996-2022 theme: math4-green | www.version: 2.17 Pg version 2.17 | The WaßWork Project
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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Transcribed Image Text:MMA MATHEMATICAL ASSOCIATION OF AMERICA
Simple and Compound Interest / 5
Previous Problem Problem List Next Problem
HW 20 Simple and Compound Interest: Problem 5
(5 points)
Consider a $700 T-bill calculated as a simple discount loan. The annual simple discount rate is 2% and the length is set to be 13 months. Find the price of the T-bill, the interest earned, and the
simple interest rate paid on the bill.
Price of the T-bill= dollars.
Total interest earned when $700 T-bill is redeemed = dollars.
Simple interest rate earned = percent (round to 2 decimal places).
Note: You can earn partial credit on this problem.
Preview My Answers Submit Answers
You have attempted this problem 0 times.
You have unlimited attempts remaining.
Page generated at 05/04/2024 at 02:46pm EDT
WeBWorK 1996-2022 theme: math4-green | www.version: 2.17 Pg version 2.17 | The WaßWork Project
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