May. 15, 2010, Leven Corp. negotiated a short-term loan of $703,000. The loan is due Oct. 13, 2010, and carries a 7.04% interest rate. Use ordinary interest to calculate the interest. What is...
May. 15, 2010, Leven Corp. negotiated a short-term loan of $703,000. The loan is due Oct. 13, 2010, and carries a 7.04% interest rate. Use ordinary interest to calculate the interest. What is...
The bank offers you a 6% continuously compounding interest rate. If the bank offers you an equivalent interest rate compounded quarterly, what will that interest rate be (use 3 significant figures...
The bank offers you a 8% continuously compouding interest rate. If the bank offers you an equivalent interest rate compounded quarterly, what will that interest rate be?
After 8 years, Jame's account earned $600 in interest, If the interest rate (in decimal form) is 0.06, how much did Jame's initially invest ?
The bank offers you a 6% continuously compouding interest rate. If the bank offers you an equivalent interest rate compounded quarterly, what will that interest rate be (use 3 significant figures...
Give 3 decimal places in your answer and include units.
Find the annual simple interest rate of a loan, where $1000 is borrowed and where $1080 is repaid at the end of 19 months
I deposit 791,710.96 into a savings account that pays 4% interest each year. However, I am also withdrawing 40,000 a year as well. I want to know the equation for determining the amount...
The annual interest on a $9000 investment exceeds the interest earned on a $6000 investment by $135. The $9000 is invested at a 0.5% higher rate of interest than the $6000. What is the interest rate...
Sherrie invested some money at 7% interest. Sherrie also invested $242 more than 4 times that amount at 6%. How much is invested at each rate if Sherrie receives $427.13 in interest after one year...
Mr. Jones borrowed $3,680 from Scotiabank for 6 months at 8.75% per annum. Find: (a) The sum of money Mr. Jones had to pay the bank as simple interest. (b) The total amount of money repaid...
An individual agrees to pay $6,000 per year for three years to payoff a car loan. His payments are always made at the end of each year. If the interest rate in year 1 is 3%, in year 2 is 3.5%...
An individual agrees to pay $6,000 per year for three years to payoff a car loan. His payments are always made at the end of each year. If the interest rate in year 1 is 3%, in year 2 is 3.5%...
New members of a golf club are admitted at the start of each year and pay an initiation fee of $2,000 immediately. Thereafter, members pay an annual membership fee of $400, which falls due at the...
According to an article in the Maclean’s magazine, “Cable, satellite and wireless companies may be charging illegal late fees. Companies may calculate a compounded late-fee rate of two percent a month...
A. $2,979.44 B. $3,084.34 C. $5,464.11 D. None of the above
An oil company wants to drop the effective rate of interest on its credit card by 2.2%. If it currently charges a periodic rate of 1.20% per month, at what amount should it set the periodic rate?...
how to solve this?
how to figure this out?!?
i need help Mike invests $22,000 for a year. He invests some at the 7% interest rate and some at the 6% rate. After one year, he receives $1420 in total interest. How much did he invest...