Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Solve by using compound table: (Round the "Total Amount" and "Total Interest" to the nearest cent.)
# of Periods to
Rate of
When
Principal
Time
be
Total Amount
Total Interest
Compound
Compounded
Compounded
$
300
1 year
16 %
Quarterly
4
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- Determine the due date and the amount of interest due at maturity on the following notes: Date of Note January 5 * February 15 * May 19 August 20 e. October 19 a. $87,000 27,000 66,000 34,000 52,000 * Assume a leap year in which February has 29 days. Assume 360 days in a year when computing the interest. Note b. C. d. (a) (b) (c) (d) (e) Face Amount Due Date $ Interest Interest Rate 1000 6% 4 8 5 7 Term of Note 120 days 30 days 45 days 90 days 90 daysarrow_forwardDetermine the due date and the amount of interest due at maturity on the following notes. When calculating interest amounts, assume there are 360 days in a year. Round intermediate calculations to 4 decimal places, and round your final answers to the nearest whole dollar. Date of Note Face Amount Interest Rate Term of Note a. January 15 $49,185 13 % 30 days b. April 1 18,045 11 90 days C. June 22 12,325 8 45 days d. August 30 18,975 12 120 days e. October 16 11,660 9 50 days Interest Due at Due Date Maturity a. b. نف C. d. e.arrow_forwardCalculating Interest Using 360 days as the denominator, calculate interest for the following notes using the formula I = P × R × T. Round your answers to the nearest cent. Principal Rate Time Interest $4,200 6.00% 30 days $fill in the blank 1 1,000 7.50 60 $fill in the blank 2 4,400 8.00 120 $fill in the blank 3 950 6.80 95 $fill in the blank 4 1,250 7.25 102 $fill in the blank 5 2,400 7.00 90 $fill in the blank 6arrow_forward
- Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal interest rate date borrowed date repaid exact time interest maturity value $1,500 12% May 15 January 16arrow_forwardCalculate 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 $730arrow_forwardComplete without using table: (Round the "Total Amount" and "Total Interest" to the nearest cent.) Principal Time Rate of Compound When Compounded # of Periods to be Compounded Total Amount Total Interest $1,500 1 year 12% Quarterlyarrow_forward
- Subject: accountingarrow_forward3.Use the exact interest method (365 days) and the ordinary interest method (360 days) to compare the amount (in $) of interest for the loan. (Round your answers to two decimal places.) Principal Rate (%) Time (days) Exact Interest Ordinary Interest $185,500 9.75 53 $ $arrow_forwardComplete the following without using Table12.1. Note: Round the "Total amount" and "Total interest" to the nearest cent. Principal: $1,360 Time (years): 1 Rate of compound interest: 10% Compounded: Quarterly Periods: Rate: % Total amount: Total interest: Period 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 1 1.0050 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0650 1.0700 1.0750 1.0800 1.0850 1.0900 1.0950 1.1000 2 1.0100 1.0201 1.0302 1.0404 1.0506 1.0609 1.0712 1.0816 1.0920 1.1025 1.1130 1.1236 1.1342 1.1449 1.1556 1.1664 1.1772 1.1881 1.1990 1.2100 3 1.0151 1.0303 1.0457 1.0612 1.0769 1.0927 1.1087 1.1249 1.1412 1.1576 1.1742 1.1910 1.2079 1.2250 1.2423 1.25.97 1.2773 1.2950 1.3129 1.3310 4 1.0202 1.0406 1.0614 1.0824 1.1038 1.1255 1.1475 1.1699 1.1925 1.2155 1.2388 1.2625 1.2865 1.3108 1.3355 1.3605 1.3859 1.4116 1.4377 1.4641 5 1.0253 1.0510 1.0773 1.1041 1.1314 1.1593 1.1877…arrow_forward
- Calculate the missing information for the loan. Round percents to the nearest tenth and days to the next higner day when hecessary. Maturity Value (in $) Rate Time Interest Principal Interest (%) (days) Method $3,100 167 Exact $220arrow_forwardUse the exact interest method (365 days) and the ordinary interest method (300 days) to compare the amount (in 1) of interest for the loan. (Round your answers to two decimal places.) Principal Rate (6) Time (days) Exect Interest Ordinary Interest $196,500 $C 9.75 51arrow_forwardll. Subject :- Accountingarrow_forward
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