On April 5, 2022, Janeen Camoct took out an 8% loan for $20,000. The loan is due March 9, 2023. Janeen's terms are ordinary interest. Sabrina Bowers took out the same loan as Janeen. Sabrina's terms, however, are exact interest. (Ignore leap year.) (Use Days in a year table.) a. What is Sabrina's difference in interest? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Difference b. What will Sabrina pay on March 9, 2023? Note: Round your answer to the nearest cent. Amount

On April 5, 2022, Janeen Camoct took out an 8% loan for $20,000. The loan is due March 9, 2023. Janeen's terms are ordinary interest. Sabrina Bowers took out the same loan as Janeen. Sabrina's terms, however, are exact interest. (Ignore leap year.) (Use Days in a year table.) a. What is Sabrina's difference in interest? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Difference b. What will Sabrina pay on March 9, 2023? Note: Round your answer to the nearest cent. Amount

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 April 5, 2022, Janeen Camoct took out an 5.5% loan for $12,000. The loan is due March 9, 2023. Janeen's terms are ordinary interest. Sabrina Bowers took out the same loan as Janeen. Sabrina's terms, however, are exact interest. (Ignore leap year.) (Use Days in a year table.) a. What is Sabrina's difference in interest? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Difference b. What will Sabrina pay on March 9, 2023? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Amount
On April 5, 2019, Janeen Camoct took out an 8.5% loan for $20,000. The loan is due March 9, 2020. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2020? (Ignore leap year.) Required: What are the number of days between the two dates listed below? Note: Use the DATEDIF or DAYS function to calculate the number of days. 4/5/2019 3/9/2020 What is your principal? Note: Answer should be entered as a numeric value and not a formula. What is your rate? Note: Answer should be entered as a numeric value and not a formula. What is the time? What total amount will Janeen pay on March 9, 2020?
On April 5, 2022, Janeen Camoct took out an 81% loan for $20,000. The loan is due March 9, 2023. Janeen's terms are ordinary interest. Sabrina Bowers took out the same loan as Janeen. Sabrina's terms, however, are exact interest. (Ignore leap year.) (Use Days in a year table.) a. What is Sabrina's difference in interest? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Difference _ b. What will Sabrina pay on March 9, 2023? Note: Round your answer to the nearest cent. Amount
ASAP
Arianna borrowed $6700. Over the course of 4 years, Arianna ended up paying $1340 in interest. What was the simple interest rate of the loan? Record your answer as a percentage. Do not inlcude the % symbol in your answer. 11%
Question: On May 1, 2020, Hazel borrowed a sum of money from Far East Bank , payable for 2 years at 8% simple interest. She paid P6,000 for the interest of her loan. Find how much was borrowed by Hazel.
On May 1, 2020, Hazel borrowed a sum of money from Far East Bank , payable for 2 years at 8% simple interest. She paid P6,000 for the interest of her loan. Find how much was borrowed by Hazel.
Reena took a loan of 1200 with simple interest for as many years as the rate of interest. If she paid 432 as interest at the end of the loan period, what was the rate of interest?
On June 26, 2019, Naomi obtained a loan of P150,000 from a local businessman. The interest rate on the loan was 7.75% and it is to be paid on November 15, 2020. What is the Ordinary simple interest using exact time?
Lucy took out a $24,000 loan for 1 month and was charged simple interest. The total interest she paid on the loan was $118. As a percentage, what was the annual interest rate of Lucy's loan? Do not round any intermediate computations. If necessary, refer to the list of financial formulas. % X
(d) Candice Houston has a $ 24,900 debt that she wishes to repay 6 years from today; she has $ 14,847 that she intends to invest for the 6 years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt? (Round answer to O decimal places, e.g. 7%.) Rate of interest e Textbook and Media
1) Ms. Smith borrowed P125,000 at 11% stated rate of interest and was to pay back the loan in 24 monthly payments. What is her effective rate of interest? A. 10.56% C. 21.12%B. 18.96% D. 22.00% 2) Kenneth's Arrows and Bows borrow P10,000 for one year at 12% interest. What is the effective rate of interest if the loan is discounted?A. < 12.5% C. > 13.5% but < 14.5%B. > 12.5% but < 13.5% D. > 14.5% 3) Koopman's Chickens, Inc. plans to borrow P300,000 from its bank for one year. The rate of interest is 10%, but a compensating balance of 15% is required. What is the effective rate of interest?A. < 11.4% C. > 11.6 % but < 11.8 %B. > 11.4% but < 11.6% D. > 11.8 %

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