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Advanced MathContemporary Mathematics for Business & ConsumersUsing ordinary interest, 360 days, calculate the missing information for the following simple discount notes. Face Discount Date of Term Maturity Bank Value Rate(%) Note (days) Date Discount Proceeds 6. $16,800 10 June 3 80 Aug. 22 $373.33 $16,426.67BuyFind*arrow_forward*

8th Edition

Robert Brechner + 1 other

Publisher: Cengage Learning

ISBN: 9781305585447

Chapter 10.III, Problem 6RE

Textbook Problem

Using ordinary interest, 360 days, calculate the missing information for the following simple discount notes.

Face |
Discount |
Date of |
Term |
Maturity |
Bank |
||||||||

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

6. $16,800 | 10 | June 3 | 80 | Aug. 22 | $373.33 | $16,426.67 |

Contemporary Mathematics for Business & Consumers

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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. 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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. 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