Determine the amount of interest on a 60-day note for $477.00 with interest at 6.18% per annum. Ignore any grace period. The amount of interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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- Given Principal $14,500, Interest Rate 8%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $5,600 On 180th day, $3,300 a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Solve for Total Interest Cost: b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.) On 100th day On 180th day Balance after the payment c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Solve for Final Payment:Given Principal $10,000, Interest Rate 8%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $4,000 On 180th day, $2,000 a. Use the U.S. Rule to solve for total interest costCampus Flights takes out a bank loan in the amount of $200,500 on March 1. The terms of the loan include a repayment of principal in ten equal installments, paid annually from March 1. The annual interest rate on the loan is 8%, recognized on December 31. (Round answers to the nearest whole dollar if needed.) A. Compute the interest recognized as of December 31 in year 1 rounded to the whole dollar. B. Compute the principal due in year 1.
- Principal $12,000, Interest Rate 9%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $5,800 On 180th day, $3,400 What is total interest cost?Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest? A=P(1+r)t−1r A=P1+rnnt−1rn P=Arn1+rnnt−1 Periodic Deposit: $? at the end of each month Rate: 7.5% compounded monthly Time: 3 years Financial Goal: 34,000A debt of $10,000 is to be repaid by equal Monthly payments at the end of every month for 1 year. Interest is 6% compounded Semi-Annually. What is the size of the payment? Question options: $810.94 $851.72 $860.33 $856.10 Solve on white paper or typed. Not in excel
- Calculate the interest on a 270−day, 11% note for $50,000. (Use a 365−day year. Do not round intermediate calculations, and round the final answer to the nearest dollar.) A. $8,250 B. $458 C. $4,068 D. $5,5006.I need help with finance homework questions asap. (rounded to 2 decimal places) What is the effective annual rate on a loan with a quoted rate of 7.45% compounded semi-annually?Give typing answer with explanation and conclusion You purchase a 188-day, $1000 U.S. Treasury bill at 0.36% discount. On the date of maturity, you will receive $1000. What is the actual rate of interest of the Treasury bill? Express the rate as a percent rounded to four decimal places.
- A student borrows $68,300 at 7.2% compounded monthly. Find the monthly payment and total interest paid over a 15-year payment plan. Question content area bottom Part 1 The payment size is $enter your response here. (Round to the nearest cent.)2.- $3,500 is deposited into a savings account at the end of each semester for eight and a half years. If no withdrawals are made, how much money will be in the account? The interest rate is 5.5% per semester compounded every semester. Options: 100137.28 102512.37 96789.21 94487.41Answer the following questions. (Round interest rate to 0 decimal places, e.g. 7%.)(1) If the note has been outstanding 3 months, what is the annual interest rate on that note? Interest Expense: $511 Notes Payable: $4,700
