Math

Advanced MathContemporary Mathematics for Business & ConsumersThe following interest-bearing promissory notes were discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. Face Interest Date of Term of Maturity Maturity Date of Discount Discount Value Rate (%) Note Note (days) Date Value Discount Period (days) Rate (%) Proceeds $1,240 7.6 Sept. 12 140 ________ ________ Dee. 5___________ 11.8 _____________BuyFind*arrow_forward*

8th Edition

Robert Brechner + 1 other

Publisher: Cengage Learning

ISBN: 9781305585447

Chapter 10.III, Problem 20RE

Textbook Problem

The following interest-bearing promissory notes were discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information.

Face |
Interest |
Date of |
Term of |
Maturity |
Maturity |
Date of |
Discount |
Discount |
||||||||||

Value |
Rate (%) |
Note |
Note (days) |
Date |
Value |
Discount |
Period (days) |
Rate (%) |
Proceeds |
|||||||||

$1,240 | 7.6 | Sept. 12 | 140 | ________ | ________ | Dee. 5___________ | 11.8 | _____________ |

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 For a population with a standard deviation of ( =12, a score of X=44corresponds to z=0.50. What is the populati...

Statistics for The Behavioral Sciences (MindTap Course List)

Use Equations 7 to find z/x and z/y. x2y2+z22z=4

Calculus (MindTap Course List)

Solve each equation in Exercises 107120 for x, rounding your answer to four significant digits where necessary....

Finite Mathematics

In Problems 27 and 28, a point on the graph of is given, as is the equation of the line tangent to the graph ...

Mathematical Applications for the Management, Life, and Social Sciences

Explain why the following statement is true. Each interior angle of an equiangular triangle measures 60.

Elementary Geometry For College Students, 7e

The masses mi, are located at the points Pi. Find the moments Mx and My and the center of mass of the system. 2...

Calculus: Early Transcendentals

For each measurement, find the precision, the greatest possible error, the relative error, and the percent of e...

Elementary Technical Mathematics

In your own words, describe, the role of statistics in the research process. Using the wheel of science as a fr...

Essentials Of Statistics

In Exercises 4144, determine whether the statement is true or false. 41. 3 20

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

If f(x) = x + 4 and h(x) = 4x 1, find a function g such that g f = h.

Single Variable Calculus

In Exercises 25 to 36, determine whether each statement is true or false. If the statement is false, give a rea...

Mathematical Excursions (MindTap Course List)

Solve the equation for x. 45. |x + 3| = |2x + 1|

Single Variable Calculus: Early Transcendentals, Volume I

The U.S. Army commissioned a study to assess how deeply a bullet penetrates ceramic body armor (Testing Body Ar...

Probability and Statistics for Engineering and the Sciences

Suppose that an amount P is invested at an interest rate r and A(t) is the amount of the investment after t yea...

Precalculus: Mathematics for Calculus (Standalone Book)

Evaluating an Iterated Integral In Exercises 3-6, evaluate the iterated integral. 0101+x(3x+2y)dydx

Calculus: Early Transcendental Functions

For Problems 1-50, solve each equation. Objective 1 x6=8

Intermediate Algebra

Describe the data for a correlation research study and explain how these data are different from the data obtai...

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

Baseball: Batting Averages and Home Runs In baseball, is there a linear correlation between batting average and...

Understanding Basic Statistics

Rewrite each expression in Exercises 116 as a single rational expression, simplified as much as possible. 2x3x2...

Finite Mathematics and Applied Calculus (MindTap Course List)

Find an equation of the plane. 18. The plane through (2, 1, 0) and parallel to x + 4y 3z 1

Multivariable Calculus

Evaluating a Function In Exercises 79 and 80, evaluate the function at the specified values of the independent ...

Calculus: An Applied Approach (MindTap Course List)

Prove that a nonzero element in is a zero divisor if and only if and are not relatively prime.

Elements Of Modern Algebra

Write each of the following in terms of cos only. sec

Trigonometry (MindTap Course List)

Evaluate the indefinite integral. dtcos2t1+tant

Single Variable Calculus: Early Transcendentals

WRITING ABOUT CONCEPTS Linear Approximation What is meant by a linear approximation of z = f(x, y) at the point...

Calculus: Early Transcendental Functions (MindTap Course List)

Using the Integral Test In Exercises 3-22, confirm that the Integral Test can be applied to the series. Then us...

Calculus of a Single Variable

Find the surface area of that portion of the graph of lying above the region at the right.

Study Guide for Stewart's Multivariable Calculus, 8th

For a normal probability density function f(x)=12e(x)2/(22), the probability that x is: a) 1 b) 12 c) 1 d) 12...

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

In Exercises 16. refer to the following matrices: A=[23941126760295158] B=[312014321108] C=[10345] D=[1320] Fin...

Finite Mathematics for the Managerial, Life, and Social Sciences

In Exercises 3 and 4, use the fact that 1foot=12inches. Convert 52 inches to a measure in feet and inches.

Elementary Geometry for College Students

Major League Baseball (MLB) includes two groups of teams, in leagues. There are 15 teams in each of the America...

Introduction To Statistics And Data Analysis

In addition to the key words, you should also be able to define the following terms: Two-factor design Single-f...

Research Methods for the Behavioral Sciences (MindTap Course List)

Simplify each expression. Write all answer without using negative exponents. Assume that all variables are rest...

College Algebra (MindTap Course List)

Consider the experiment of selecting a playing card from a deck of 52 playing cards. Each card corresponds to a...

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

Describe and identify an example of the empirical method of acquiring knowledge and explain its limitations.

Research Methods for the Behavioral Sciences (MindTap Course List)

Finding Extrema on a Closed Interval In Exercises 1-8 Find the absolute extrema of the function on the closed i...

Calculus (MindTap Course List)

Consider the following hypothesis test. H0: 10 Ha: 10 The sample size is 120 and the population standard de...

STATISTICS F/BUSINESS+ECONOMICS-TEXT

Add the following expressions. (x3+5),(3x7x2+7),(x3x3)

Mathematics For Machine Technology

True or False? In Exercises 69 and 70. determine whether the statement is true or false. If it is false, explai...

Multivariable Calculus

The transitive property of cardinality say that given any set A, B, and C, _______.

Discrete Mathematics With Applications

In Exercises 2338, find the indicated value. 9!5!4!

Mathematics: A Practical Odyssey

In Problems 3136 solve the given differential equation by finding, as in Example 4, an appropriate integrating ...

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

Analyzing Job Satisfaction. Recall that in exercise 50 the personnel director for Electronics Associates develo...

Essentials Of Statistics For Business & Economics

36. Jamal Crawford of the National Basketball Associationâ€™s Portland Trail Blazers is the best free-throw shoot...

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

Reminder Round all answers to two decimal places unless otherwise indicated. Find the quadratic determined by (...

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

The median age for U.S. blacks currently is 30.9 years; for U.S. whites it is 42.3 years. a. Based upon this In...

Introductory Statistics

For the following exercises, consider an athlete running a 40-m dash. The position of the athlete is given by d...

Calculus Volume 1