business Maths
Savings account interest earned $ 56.40 CD interest earned $ 82.56 Difference in interest earnings $ 26.16 Explanation: Savings account interest earned: $2,400 × 0.0235 = $56.40 CD interest earned: $2,400 × 0.0344 = $82.56 Difference in interest earnings: $82.56 &#...
business Maths
The main concept to investing is diversify your investments. The old saying of “don’t put all of your eggs in one basket” exemplifies this concept. Kerry Stutsman has saved $2,400 and is wondering how to invest it. She was researching different investment option...
business Maths
a) Interest $ 298.12 b)Maturity value $ 16,198.12 a: $15,900 × 0.0375 ×6/12 =$298.13 b: MV = P + I = $15,900 + $298.13 = $16,198.13
business Maths
Leslie Hart borrowed $15,900 to pay for her child’s education at Riverside Community College. Leslie must repay the loan at the end of 6 months in one payment with interest. (a) How much interest must Leslie pay? (Do not round intermediate calculation. Round your answer t...
business Maths
A) Interest $ 69.87 B) Maturity value $ 3,969.87 Explanation: a: 365 Sept. 20= – 263 ________ 102 + 27 __________ 129 $3,900 ×0.05 × 129/360 = $69.88 interest b: $69.88 + $3,900 = $3,969.88
business Maths
On September 20, Jody Jansen went to Sunshine Bank to borrow $3,900 at 5% interest. Jody plans to repay the loan on January 27. Assume the loan is on ordinary interest. (Use table value) (a) What interest will Jody owe on January 27? (Use 360 days a year. Do not round intermed...
Business Maths
Maturity value $ 725,047.45 Explanation: Due date of loan Oct. 2 = 275 day of year Date of loan May. 10 = - 130 day of year __________________ 145 days on loan (time) __________________ P R T $705,000 × 0.0706 × 145/360 =$20,047.46 Interest $ 705,000.00 P +20,047.4...
Business Maths
May. 10, 2010, Leven Corp. negotiated a short-term loan of $705,000. The loan is due Oct. 2, 2010, and carries a 7.06% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date?(Use table value.) (Use 360 days...
business Maths
Time 3.5 years Explanation: $520 $520 _______________ = ______ = 3.5 years $1,900 × 0.078 $148.20
business Maths
Gordon Rosel went to his bank to find out how long it will take for $1,900 to amount to $2,420 at 7.8% simple interest. Please solve Gordon’s problem. (Round your answer to 1 decimal place.)
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