Math

Advanced MathContemporary Mathematics for Business & ConsumersCalculate the bank discount and proceeds for the following simple discount notes. Use the ordinary interest method, 360 days, when applicable. Face Value Discount Rate (%) Term Bank Discount Proceeds $4,500 13 6 months $292.50 $4,207.50BuyFind*arrow_forward*

8th Edition

Robert Brechner + 1 other

Publisher: Cengage Learning

ISBN: 9781305585447

Chapter 10.III, Problem 1RE

Textbook Problem

Calculate the bank discount and proceeds for the following simple discount notes. Use the ordinary interest method, 360 days, when applicable.

Face Value |
Discount Rate (%) |
Term |
Bank Discount |
Proceeds |

$4,500 | 13 | 6 months | $292.50 | $4,207.50 |

Contemporary Mathematics for Business & Consumers

Show all chapter solutions

Ch. 10.I - Find the amount of interest on each of the...Ch. 10.I - Joe Hale goes to a credit union and borrows...Ch. 10.I - Karen Mitroff goes to the bank and borrows $15,000...Ch. 10.I - a. What is the amount of interest and the maturity...Ch. 10.I - a. A loan was made on April 4 and had a due date...Ch. 10.I - a. What is the maturity date of a loan taken out...Ch. 10.I - Find the amount of interest on each of the...Ch. 10.I - Find the amount of interest on each of the...Ch. 10.I - Find the amount of interest on each of the...Ch. 10.I - Principal Rate (%) Time Interest...

Ch. 10.I - Principal Rate (%) Time Interest...Ch. 10.I - Principal Rate (%) Time Interest...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Use the exact interest method (365 days) and the...Ch. 10.I - Find the amount of interest and the maturity value...Ch. 10.I - Find the amount of interest and the maturity value...Ch. 10.I - Find the amount of interest and the maturity value...Ch. 10.I - Find the amount of interest and the maturity value...Ch. 10.I - Find the amount of interest and the maturity value...Ch. 10.I - Find the amount of interest and the maturity value...Ch. 10.I - Find the maturity value of the following loans....Ch. 10.I - Find the maturity value of the following loans....Ch. 10.I - Find the maturity value of the following loans....Ch. 10.I - Find the maturity value of the following loans....Ch. 10.I - Find the maturity value of the following loans....Ch. 10.I - Find the maturity value of the following loans....Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - From the following information, determine the...Ch. 10.I - Solve the following word problems. Round to the...Ch. 10.I - 43. What is the maturity value of a $60,000 loan...Ch. 10.I - 44. Central Auto Parts borrowed $350,000 at ...Ch. 10.I - 45. Emil Benson missed an income tax payment of...Ch. 10.I - 46. At the City National Credit Union, a , $8,000...Ch. 10.I - 47. Kyle Rohrs borrowed $1,080 on June 16 at ...Ch. 10.II - Telex Electronics borrowed money at 9% interest...Ch. 10.II - Using the ordinary interest method, what is the...Ch. 10.II - What is the time period of a loan for $15,000 at...Ch. 10.II - Rita Peterson borrowed $15,000 at 12% ordinary...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Compute the principal for the following loans. Use...Ch. 10.II - Use the ordinary interest method to compute the...Ch. 10.II - Use the ordinary interest method to compute the...Ch. 10.II - Use the ordinary interest method to compute the...Ch. 10.II - Use the ordinary interest method to compute the...Ch. 10.II - Use the ordinary interest method to compute the...Ch. 10.II - Use the ordinary interest method to compute the...Ch. 10.II - Use the ordinary interest method to compute the...Ch. 10.II - Calculate the missing information for the...Ch. 10.II - Calculate the missing information for the...Ch. 10.II - Calculate the missing information for the...Ch. 10.II - Calculate the missing information for the...Ch. 10.II - Calculate the missing information for the...Ch. 10.II - Solve the following word problems. Round answers...Ch. 10.II - Solve the following word problems. Round answers...Ch. 10.II - Solve the following word problems. Round answers...Ch. 10.II - Solve the following word problems. Round answers...Ch. 10.II - Solve the following word problems. Round answers...Ch. 10.II - Solve the following word problems. Round answers...Ch. 10.II - The Actors Playhouse theater borrowed $100,000 at...Ch. 10.II - 34. Steve Perry borrowed $10,000 at ordinary...Ch. 10.II - Pamela Boyd borrowed $20,000 at 6.5% ordinary...Ch. 10.II - 36. The Mutt Hut Pet Shop borrowed $60,000 on...Ch. 10.II - a. How many years will it take $5,000 invested at...Ch. 10.III - Erin Lang signed a $20,000 simple discount...Ch. 10.III - What is the effective interest rate of a simple...Ch. 10.III - Legacy Lumber received a $35,000 promissory note...Ch. 10.III - Bob Schuller purchased $10,000 in U.S. Treasury...Ch. 10.III - Calculate the bank discount and proceeds for the...Ch. 10.III - Calculate the bank discount and proceeds for the...Ch. 10.III - Calculate the bank discount and proceeds for the...Ch. 10.III - Calculate the bank discount and proceeds for the...Ch. 10.III - Calculate the bank discount and proceeds for the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - Using ordinary interest, 360 days, calculate the...Ch. 10.III - The following interest-bearing promissory notes...Ch. 10.III - The following interest-bearing promissory notes...Ch. 10.III - The following interest-bearing promissory notes...Ch. 10.III - The following interest-bearing promissory notes...Ch. 10.III - The following interest-bearing promissory notes...Ch. 10.III - Calculate the interest, purchase price, and...Ch. 10.III - Calculate the interest, purchase price, and...Ch. 10.III - Calculate the interest, purchase price, and...Ch. 10.III - Calculate the interest, purchase price, and...Ch. 10.III - Calculate the interest, purchase price, and...Ch. 10.III - Use the ordinary interest method, 360 days, to...Ch. 10.III - Boz Foster signed a $10.000 simple discount...Ch. 10.III - 28. Pinnacle Manufacturing received a $40,000...Ch. 10.III - Christy Thomas purchased $150,000 in U.S. Treasury...Ch. 10 - 1. The price or rental fee charged by a lender to...Ch. 10 - List the three factors that determine the amount...Ch. 10 - Interest calculated solely on the principal amount...Ch. 10 - The interest calculation method that uses 365 days...Ch. 10 - 5. The interest calculation method that uses 360...Ch. 10 - Maturity value is the total payback of principal...Ch. 10 - The first day of a loan is known as the ________...Ch. 10 - Write the formula for calculating simple interest....Ch. 10 - When solving the simple interest formula for...Ch. 10 - 10. The U.S. rule states that when a partial...Ch. 10 - The amount of money that the borrower receives at...Ch. 10 - 12. The actual interest rate charged on a...Ch. 10 - When a note is discounted before maturity, the...Ch. 10 - Discounted short-term loans made to the U.S....Ch. 10 - Using the exact interest method (365 days), find...Ch. 10 - Using the ordinary interest method (360 days),...Ch. 10 - Using the ordinary interest method (360 days),...Ch. 10 - Using the ordinary interest method (360 days),...Ch. 10 - What is the maturity value of the following loans?...Ch. 10 - What is the maturity value of the following loans?...Ch. 10 - From the following information, determine the...Ch. 10 - From the following information, determine the...Ch. 10 - From the following information, determine the...Ch. 10 - From the following information, determine the...Ch. 10 - Compute the principal for the following loans....Ch. 10 - Compute the rate for the following loans. Round...Ch. 10 - Compute the rate for the following loans. Round...Ch. 10 - Compute the rate for the following loans. Round...Ch. 10 - Use the ordinary interest method to compute the...Ch. 10 - Use the ordinary interest method to compute the...Ch. 10 - Calculate the missing information for the...Ch. 10 - Calculate the missing information for the...Ch. 10 - Calculate the missing information for the...Ch. 10 - Using ordinary interest, calculate the missing...Ch. 10 - Using ordinary interest, calculate the missing...Ch. 10 - Using ordinary interest (360 days), calculate the...Ch. 10 - Using ordinary interest (360 days), calculate the...Ch. 10 - The following interest-bearing promissory notes...Ch. 10 - The following interest-bearing promissory notes...Ch. 10 - Calculate the interest, purchase price, and...Ch. 10 - Calculate the interest, purchase price, and...Ch. 10 - Solve the following word problems. Round to the...Ch. 10 - 29. Ronald Brown missed an income tax payment of...Ch. 10 - 30. Katie Chalmers borrowed money from her credit...Ch. 10 - 31. Ryan Roberts took out a loan for $5.880 at the...Ch. 10 - 32. Alicia Eastman deposited $2,000 in a savings...Ch. 10 - 33. Laurie Carron borrowed $16,000 at 14% ordinary...Ch. 10 - 34. Euromart Tile Company borrowed $40,000 on...Ch. 10 - Brandi Lee signed a $30,000 simple discount...Ch. 10 - Varsity Press, a publisher of college textbooks,...Ch. 10 - 37. Fernando Rodriguez purchased $64,000 in U.S....

Find more solutions based on key concepts

Show solutions Interpretation You are applying for two jobs, and you estimate the probability of getting an offer for the firs...

Understanding Basic Statistics

37. Allometric growth If x and y are measurements of certain parts of an organism, then the rate of change of y...

Mathematical Applications for the Management, Life, and Social Sciences

A large university administers entrance exams to all entering students. The test is administered again as an ex...

Essentials Of Statistics

Electric Circuit The diagram shows a simple electric circuit consisting of a power source, a resistor, and an i...

Calculus: Early Transcendental Functions

Let f(x) = x + x. (a) For what values of a does limxa f(x) exist? (b) At what numbers is f discontinuous?

Single Variable Calculus

Graph the following points: P(4,4),Q(4,4),R(3,0),S(4,0.5),T(0.5,2.5),U(2,0),V(4,4)

Finite Mathematics and Applied Calculus (MindTap Course List)

Change each hexadecimal number to binary form: 7E4

Elementary Technical Mathematics

For Problems 5-54, perform the following operations with real numbers. Objectives 3-6 (5.4)(7.2)

Intermediate Algebra

Find the angle between the vectors. (First find an exact expression and then approximate to the nearest degree....

Multivariable Calculus

An object with weight W is dragged along a horizontal plane by a force acting along a rope attached to the obje...

Calculus (MindTap Course List)

Evaluating Trigonometric Functions Find sin t and cos t for the values of t whose terminal points are shown on ...

Precalculus: Mathematics for Calculus (Standalone Book)

Show that if m is any real number, then there are exactly two lines of slope m that are tangent to the ellipse ...

Calculus: Early Transcendentals

Construct a drawing of the fourth hexagonal number.

Mathematical Excursions (MindTap Course List)

The following table shows four rows. from a frequency dis1tribution table for a sample of n = 50 scores. Use in...

Statistics for The Behavioral Sciences (MindTap Course List)

Suppose a particular state allows individuals filing tax returns to itemize deductions only if the total of all...

Probability and Statistics for Engineering and the Sciences

New Users The number of registered users at OHaganBooks.com has increased substantially over the past few month...

Applied Calculus

If F(x) = f(3f(4f(x))), where f(0) = 0 and f(0) = 2, find F(0).

Single Variable Calculus: Early Transcendentals, Volume I

Determining Continuity on a Closed Interval In Exercises 47-50, discuss the continuity of the function on the c...

Calculus: An Applied Approach (MindTap Course List)

Solve the equations in Exercises 126. x44x2=4

Finite Mathematics

Lobbyists Spending Lobbyists try to persuade legislators to propose, pass, or defeat legislation or to change e...

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Given: XYZ with angles as shown in the drawing Find: XY HINT: Compare this drawing to the one for Exercise 20.

Elementary Geometry For College Students, 7e

Explain why the formula for sample variance is different from the formula for population variance.

Essentials of Statistics for The Behavioral Sciences (MindTap Course List)

Solve triangle ABC given the following information. A=73.1,b=243cm and c=157cm

Trigonometry (MindTap Course List)

Piecewise Functions Let f(x)={0,ifxisratioinal1,ifxisratioinal and g(x)={0,ifxisratioinal1,ifxisratioinal Find ...

Calculus of a Single Variable

Assume that the ring R is isomorphic to the ring R. Prove that if R is commutative, then R is commutative.

Elements Of Modern Algebra

Finding an Indefinite Integral In Exercises 19-32, find the indefinite integral. xarcsinxdx

Calculus: Early Transcendental Functions (MindTap Course List)

Use multiplication or division of power series to find the first three nonzero terms in the Maclaurin series fo...

Single Variable Calculus: Early Transcendentals

In Exercise 17 to 22, use either the sine ratio or the cosine ratio to find the length of the indicated sides o...

Elementary Geometry for College Students

The best linear fit for the data at the right is y = 3.4 x + 39. An estimate for x = 5 is a) 20 b) 22 c) 24 d) ...

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

In Exercise 25-28, find the optimal strategies, P and Q, for the row player and the column player, respectively...

Finite Mathematics for the Managerial, Life, and Social Sciences

True or False:
By the Integral Test, converges.

Study Guide for Stewart's Multivariable Calculus, 8th

Curl What is the physical interpretation of curl?

Multivariable Calculus

Data showing the population by state in millions of people follow (The World Almanac, 2012). a. Develop a frequ...

Statistics for Business & Economics, Revised (MindTap Course List)

Consider a variation of the PDC decision tree shown in Figure 21.5. The company must first decide whether to un...

STATISTICS F/BUSINESS+ECONOMICS-TEXT

A machine that produces ball bearings has initially been set so that the true average diameter of the bearings ...

Introduction To Statistics And Data Analysis

Solve the following exercises. Compute the sides to 3 decimal places in triangles dimensioned in customary unit...

Mathematics For Machine Technology

Maximizing height A ball is thrown straight up from the top of a building 144 ft. tall with an initial velocity...

College Algebra (MindTap Course List)

) Ideas for future research studies often can be obtained from the discussion sections of research reports. Occ...

Research Methods for the Behavioral Sciences (MindTap Course List)

Define primary and secondary sources and explain how each plays a role in the process of finding a research ide...

Research Methods for the Behavioral Sciences (MindTap Course List)

Composite Functions Let f(x)=11x (a) What are the domain and range of f? (b) Find the composition f(f(x)). What...

Calculus (MindTap Course List)

If an asset declines in value from $5000 to $3500 over nine years, what is the mean annual growth rate in the a...

Essentials Of Statistics For Business & Economics

In Exercises 1114, cards are dealt from a full deck of 52. Find the probabilities of the given events. a. The f...

Mathematics: A Practical Odyssey

Prove each of the statements in 10-18 by mathematical induction. i=1x+1i2i=n2x+2+2, for every integer n0.

Discrete Mathematics With Applications

2. A sample of 20 items provides a sample standard deviation of 5.
Compute the 90% confidence interval estimate...

Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)

ReminderRound all answers to two decimal places unless otherwise indicated. NoteSome of the formulas below use ...

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

In Problems 120 determine whether the given differential equation is exact. If it is exact, solve it. 5. (2xy2 ...

A First Course in Differential Equations with Modeling Applications (MindTap Course List)

Use the following information to answer the next ten questions. The data that follow are the square footage (In...

Introductory Statistics

For the following exercises, evaluate the functions. Give the exact value. 214. sin1(sin(3))

Calculus Volume 1