
4) Jim has been offered a substantial cash discount if he pays an invoice 60 days earlier. One bank will loan him the needed money at 11% simple interest rate. A second bank will also loan him the money, but at bank discount rate. What is the maximum

Brand Advertising is offered a 3/10 net 40 trade discount by its supplier. In the past Brand has been able to ger away with paying for supplies on credit in 60 days. Since it doesn't have money on hand to take advantage of the discount, it tries to

Brand advertising is offered a 3/10 net 40 trade discount by its supplier. In the past Brand has been able to get away with paying for supplies on credit in 60days. since it doesnt have money on hand to take advantage of discount, it tries to negotiate a

Can anyone explain to me how to use this formula? Cost of failing to take a cash discount Disc ount percent 100 percent Discount percent 3 60 Final due date Discount period I am trying to calculate Assume the proceeds from the loan with the

1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest


 Anurag is buying a house for $100,000 and needs a mortgage loan. Bank A wants him to repay the loan in 240 months with monthly payment of $600.72. Bank B wants him to repay the loan in 360 months with a monthly payment of 389.94. Which bank should he

A small chemicalcompany is negotiatimg a loan from Manhatten Bank and Trust. The small chemical company needs to borrow $500,000. The bank offers a rate of 8 1/4 % with a 20% compensating balance, or as an alternative 9 3/4% with additional fees of $5,500

midland chemcial is negotating a loan from manhattan bank and trust. the small chemical company needs to borrow 500,000. the bank offers a rate of 81/4 percent with a 20 percent compensating balance requirement, or as an alternative, 93/4 percent with

I completed a problem where there was a $7855.00 note at the bank that charges a 14.3 % discount rate. The loan is for 190 days. I found the proceeds to be $7268.31 and the effective rate charged by the bank to be 15.29 %. How do I determine how much money

gail borrowed $3600 from a bank to buy a washing machine she pays back the loan in 24 monthly instalments at a simple interest rate of 2% a)calculate the simple interest on the loan b)the total amount to be repaid c)if gail repays the loan in 24 equal

Which of the following scenarios would be most likely to cause a small bank to be less willing to loan money to small businesses in a community? If the bank cannot sell the loan to some other bank. If the bank cannot make profit on the loan. If the

here is the problem The small chemical company needs to borrow $500,000. The bank offers a rate of 8 1/4 percent with a 20 percent compensating balance requirement, or as an alternative, 9 3/4 percent with additional fees of $5,500 to cover services the

Alice took out a $15,000 loan for college. She is borrowing money from two banks. Bank A charges an interest rate of 6%, and Bank B charges an interest rate of 7%. After one year, Alice owes $960 in interest. How much money did she borrow from Bank A?

Jimmy invests 15,000 coins in a bank and earns simple interest. After 2 years he withdraws all his money from the bank .If the amount that he receives is 17,000 coins ,calculate. (a)the interest received (b)the rate at which bank pays interest.

A new company called Bloomner construct, buys and sells furniture. During January the following happens: 1. The owner of the company pays in $50 000 into the cash, as starting capital. 2. The bank grants the company a bank loan of $40 000, the interest is


1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest

1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest

you borrow $1200 from a bank that bank charges 9.5% simple annual interest. after 15 months you pay back the loan. how much interest do you pay on the loan? what is the total amount that you pay the bank.

1. What is an entrepreneur? (1 point) a sole proprietorship a corporation one who opens a new business a bank that loans money 2. Which of the following is the best definition of probable operating costs? (1 point) Amount of money required to start a

On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest

A local bank lends $12,000 using a 150day 9% simple interest note that was signed on May 18. The bank later sells the note at a discount of 14% on July 5. Find (a) the discount, (b) the proceeds, and (c) the amount of money the bank gains or loses.

On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest

On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest

Midland Chemical Co is negotiating a loan from Manhattan Bank and Trust. The small chemical company needs to borrow $500,000. The bank offers a rate of 8¼ percent with a 20 percent compensating balance requirement, or as an alternative, 9¾ percent with

Assume a bank loan requires a interest payment of $85 per year and a principal payment of $1,000 at the end of the loan's eightyear life. a) How much could this loan be sold for to another bank if loans of similar quality carried a 8.5 percent interest


1,500 personal loan, bank is going to charge a fee of 2% of loan amount as well as take out the interest upfront. The bank is offering 15% APR for six months. Calculate the effective interest rate.

Megan took out a loan for 1500.00. The bank is going to charge her a fee of2% of her loan amount as well as take out the interest upfront. The bank is offering her 15% APR for six months. Calculate the effective interest rate.

. George Wilkins checked the spreadsheet where he keeps track of his assets and liabilities. He discovered that (i) he owes $80,000 on his house, which he believes to be worth $150,000; (ii) his car is worth $20,000, against which there is $2,000 on the

DESHAWN TOOK A LOAN OUT FOR $1,500 AT 6.4% ANNUAL INTEREST.HIS FRIEND RAY GOT A $2,000 LOAN FROM A DIFFERENT BANK AT A RATE THAT WAS 0.002 LOWER THAN DESHAWN'S. WHAT PERCENT INTEREST WAS THE BANK CHARGING FOR RAY'S LOAN?

First Simple Bank pays 6 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. Required: What rate should the bank set if it wants to match First Simple Bank over an investment horizon of

Mrs Ricky borrowed $5,340 at a bank at 9.5% per annum simple interest for 5 years. (A) the sum of money paid in interest to the bank. (B) the total amount of money repaid to the bank. (C) the value of each monthly installment.

An interest rate is a special type of (1 point) loan. **price. bank. service. 2. How does a compound interest rate differ from a simple interest rate? (1 point) ***Compound interest rates pay more interest over time. Compound interest rates are calculated

The owner of a flower shop needs a shortterm loan to tide her business over until she completes the sale of some unused property. She asks the bank for a $25,000 sixmonth loan. The bank agrees to give her the loan, but attaches a hefty interest rate of

I was wondering if I could check my answers with someone. I'm a bit confused with interest. I put stars next to the answers I chose. Thank you. An interest rate is a special type of (1 point) loan. **price. bank. service. 2. How does a compound interest

A bank charge 7.5% simple interest per year.Susie takes out a loan from this bank for 3 years.she pays a total of 1867.50 interest per year,how much she borrowed?


A man has Rs 50,000.He invests some part of it in one bank @ of 11 p.c.p.a. and the remaining money in another bank @ of 9 p.c.p.a.He gets a combined simple interest of Rs 5,400(i.e the S.I of one bank + S.I of another bank = 5,400).Then find the amount of

Five years ago, you bought a house for $151,000. You had a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was $5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the

George Wilkins checked the spreadsheet where he keeps track of his assets and liabilities. He discovered that (i) he owes $80,000 on his house, which he believes to be worth $150,000; (ii) his car is worth $20,000, against which there is $2,000 on the

George Wilkins checked the spreadsheet where he keeps track of his assets and liabilities. He discovered that (i) he owes $80,000 on his house, which he believes to be worth $150,000; (ii) his car is worth $20,000, against which there is $2,000 on the

Five years ago, you bought a house for $151,000. You had a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was $5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the

In a discount interest loan, you pay the interest payment up front. For example, if a 1year loan is stated as $10,000 and the interest rate is 10 percent, the borrower “pays” 0.10 x $10,000 = $1,000 immediately, thereby receiving net funds of $9,000

Five years ago, you bought a house for $151,000, with a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the following

1. When their child was born, Elaine and Mike Porter deposited $5,000 in a savings account. The money ears interest at 6 percent compounded quarterly. How much will the account be worth when their child celebrates her second birthday? My answer= $5,632.46

Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans. Loan 1 requires payment of

1. Current assets that a firm must carry even at the trough of sales are _____________, while current that fluctuate with seasonal or cyclical variations in sales are _____________.(b) a. temporary assets; permanent assets b. permanent assets; temporary


1. Current assets that a firm must carry even at the trough of sales are _____________, while current that fluctuate with seasonal or cyclical variations in sales are _____________.(b) a. temporary assets; permanent assets b. permanent assets; temporary

James wants to buy a 50inch flatscreen television, and the model he wants costs $1,200. So far, he has saved $700, but still needs $500 more. The bank where he has a checking and savings account will loan him $500 at 12% annual interesting using a 90day

In this question we will check if a discount is actually a discount. Say you are to borrow $100 for a year at a simple interest rate of 10%. Determine the discount D and the proceeds P for this loan. Next take another look at the situation. You take away P

Mike Drago took out a loan for $3,800 at the Gold Coast Bank for 280 days. If the bank uses the ordinary interest method, what rate of interest was charged if the amount of interest was $278? Round your answer to the nearest tenth of a percent.

A man's bank has offered him a loan of $20000 payable within the year at an annual interest rate of 24%. Calculate the monthly equal payment to defray both the principal and interest payment. Prepare a loan repayment schedule segregating interest from the

Carnation needs to buy a $12,500 part the part company is offering cash discount terms of 4/10, n30. Carnation has a tight cash flow, wants to discount a 180 day note dated February 12 with a maturity value of $10,300. Bank offers a discount rate of 6%.

1. Current assets that a firm must carry even at the trough of sales are _____________, while current that fluctuate with seasonal or cyclical variations in sales are _____________. a. temporary assets; permanent assets b. permanent assets; temporary

This assignment is about a car loan. A financial institution in your community is advertising "Simple Interest Car Loans." Here is their ad. "Looking for an attractive loan for the car of your dreams? Well, look no more. Come in and show us your car deal.

Explain why there is a need for a bank loan and what operating sources provide cash for the repayment of the bank loan

Wanda took out a personal loan for $16,000 at 9% simple interest. How much interest will she pay after 5 years? Suppose she pays off the loan in 3 years instead of 5 years. How much money will she save in interest?


In this question we will check if a discount is actually a discount. Say you are to borrow $100 for a year at a simple interest rate of 10%. Determine the discount D and the proceeds P for this loan. Next take another look at the situation. You take away P

what formula would i use to solve for this: Loan Interest A developer needs $80,000 to buy land. He is able to borrow the money at 10% per year compunded quarterly. How much will the interest amount to if he pays off the loan in 5yrs? You need a loan

Gary can get two loan, $12,000 at 8% simple interest for 9 months or a $12000 9 month discounted loan at 7% discount. based on the actual interest paid and the true rate on the discounted loan, which of the two loan offers will Gary choose

Wanda took out a personal loan for $16,000 at 9% simple interest. How much interest will she pay after 5 years? Suppose she pays off the loan in 3 years instead of 5 years. How much money will she save in interest?

Jack signed a 9000.00 note at fleet bank. Fleet chared a 9 1/4% discount rate. If the loan is for 200 days, find A) the proceeds and B) the effective rate charged b the bank. (to the nearest tenth percent

Barry and Steve are good friends. Barry wants to buy a new computer, but he doesn't have the money for it right now. Barry says he will pay Steve $2000.00 in five years if Steve gives him $1600.00 for the computer today. Steve figures that there is an

Five years ago, you bought a house for $151,000, with a down payment of $30, 000, which meant you took out a loan for $121,000. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the

1. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vicepresident for finance decided to invest $2,000,000 in a 2month investment that pays 11.5% simple interest. How much interest will

$75000is to be diposited in Banks A and B.The simple interest rate per annum for bank A is 8% while that for bank B is 8.5%.After two years their interests are equal.How much money diposited in each bank.

Calculate (a) interest and maturity value, (b) discount period, (c) bank discount, and (d) proceeds. Assume ordinary interest. (Round answers to nearest hundredths) Date of note Face value Length of note Interest rate Bank discount rate Date of discount


Sam Sounds received a $290 discount loan to purchase a stereo. The loan was offered at 16% for 90 days. Find the interest in dollars and the proceeds for the following problem.

Sam Sounds received a $320 discount loan to purchase a stereo. The loan was offered at 16% for 90 days. Find the interest in dollars and the proceeds for the following problem.

Guys please i need your help i am not getting the answer over the following questions. 1) Maria banked sh. 95,000 in her bank account. If the bank gives a simple interest of 17% per year, how much will she get after 3 years? 2) If Mollel got sh. 230,000

Tim Tele received a $380 discount loan to purchase a DVD player. The loan was offered at 18% for 60 days. Find the interest in dollars and the proceeds for the following problem.

Sam Sounds received a $290 discount loan to purchase a stereo. The loan was offered at 16% for 90 days. Find the interest in dollars and the proceeds for the following problem.

1. Which of the following is NOT correct for a firm with seasonal sales and customers who all pay promptly at the end of 30 days? a. DSO will vary from month to month. b. The quarterly uncollected balances schedule will be the same in each quarter. c. The

I'm trying to create a macro that asks for a loan between 1 dollar and 5 million, and returns different interest rates based on the amount of the loan. For some reason when I type in different loan amounts it automatically makes my rate ".1", when it

PLZZZ.. Help I just don't understand how to calculate this A landlord wants to acquire an additional apartment building for $250,000. The new building contains eight apartment units, which will each rent for $500 per month. The bank is willing to loan the

A group of economics students gathered to study for a test on the money and banking system in the U.S. During a fast and furious brainstorm session, Jill scribbled down several key phrases she will use to study tomorrow. Unfortunately, in her haste, all

If it looks like a bank won't meet the Federal Reserve Bank's reserve requirement, normally it will first turn to the: A) other member banks and borrow at the federal funds rate. B) Fed and borrow at the discount rate. C) open market and borrow money


mr brown borrowed $5,340 from a bank at 10% aunnum simplr interest for 9 years. the sum of the money paid in interest to the bank and the total amount of money repaid to the bank

Suppose your bank account will be worth $4,200.00 in one year. The interest rate (discount rate) that the bank pays is 5%. What is the present value of your bank account today?

Suppose your bank account will be worth $4,200.00 in one year. The interest rate (discount rate) that the bank pays is 5%. What is the present value of your bank account today?

A $9,000 loan is to be repaid in three equal payments occurring 60, 180, and 300 days, respectively, after the date of the loan. Calculate the size of these payments if the interest rate on the loan is 7 1/4%. Use the loan date as the focal date.

Suppose that a vegetable vendor pays 7% interest daily on a $10 loan. Then, suppose that this individual was able to save $0.50 per day by drinking less tea. Calculate the number of days it would take for the vendor to no longer need to borrow money in

Suppose that a vegetable vendor pays 7% interest daily on a $10 loan. Then, suppose that this individual was able to save $0.50 per day by drinking less tea. Calculate the number of days it would take for the vendor to no longer need to borrow money in

Suppose that a vegetable vendor pays 7% interest daily on a $10 loan. Then, suppose that this individual was able to save $0.50 per day by drinking less tea. Calculate the number of days it would take for the vendor to no longer need to borrow money in

Darla purchased a new car during a special sales promotion by the manufacturer. She secured a loan from the manufacturer in the amount of $24,000 at a rate of 4.2%/year compounded monthly. Her bank is now charging 6.8%/year compounded monthly for new car

Jared obtained a simple interest loan for 1200 at a credit union at an annual interest rate o f 5.5%. if Jared paid $1430 to repay the loan, for how many months, was the money borrowed ? ( can you please tell me the steps. thanks )

Darla purchased a new car during a special sales promotion by the manufacturer. She secured a loan from the manufacturer in the amount of $23,000 at a rate of 4.6%/year compounded monthly. Her bank is now charging 6.2%/year compounded monthly for new car


1.Joanne borrowed RM5000 for 180 days at a discount rateof 8 1/2 %.find the proceeds. 2.A businessman needs RM12000 for four months. What should be the size of the loan if his bank charges a discount rate of 9.5%.

Suppose that a vegetable vendor pays 7% interest daily on a $10 loan. Then, suppose that this individual was able to save $0.50 per day by drinking less tea. Calculate the number of days it would take for the vendor to no longer need to borrow money in

Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the

Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the

Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the

Mark put $3290 into a bank that offered 3% interest rate compounded monthly. Mark kept the money in this account for 9 years and then moved all this money to a new account that offered 6% interest rate compounded weekly. Do not round any numbers until you

Now that they have accumulated a deposit of 55,000 Jack and Jill take out a housing loan to purchase a home. The house costs $755,000. It is to be repaid in equal monthly instalments over a term of 30 years. The interest rate quoted by the bank is an

Rohan has 100 dollars that he wants to save in a bank. Bank A offers two types of savings accounts. One has a 5% simple interest rate and the other has a 4.8% compound interest rate. Bank B also offers two types of savings accounts. One has a 3% simple

Borrower Brown borrowed $8,000 from the bank. He will pay 6% simple interest on the remaining balance of the loan in semiannual equal PRINCIPAL payments for four years. How much total interest will Borrower Brown pay over the life of his loan?

Financial Project Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement


Suppose your bank account will be worth $15,000.00 in one year. The interest rate (discount rate) that the bank pays is 7%. What is the present value of your bank account today? What would the present value of the account be if the discount rate is only

1.Joanne borrowed RM5000 for 180 days at a discount rateof 8 1/2 %.find the proceeds. 2.A businessman needs RM12000 for four months. What should be the size of the loan if his bank charges a discount rate of 9.5%.

the total amount of interest on this loan of $6000 for 150 days is $210.50. what is the rate of interest on this loan? If not compounded, or simple interest, then Interest=Principal(rateinterest)*time Here time is 5/12 of a year, you are given the interest

a man has a simple discount note for $6,400 at an ordinary bank discount rate of 8.53% for 40 days what is the effective interest rate

Are these correct ?. My grade counts on this and I'm not the best at math. I. Interest is ____?. (1pt) a. The amount of money your bank pays you for the use of only your money. b. The amount you might pay for a loan. * c. A percentage rate. d. All of the