Solution-Interest rate on the statement

Interest rate on the statement

Assignment Help Mathematics

Reference no: EM131113434

Total Assignment3 worth 43 marks = 4% of the overall course mark

1) State r and t for: rate is 8.25%; time is 10 months.

2) Compute the amount of interest: $940.50 at 6.5% from October 12, 2013 to April 24, 2014.

3) Determine the deposit that must be made to earn $44.44 (interest) in 225 days at 3.15%.

4) Bill's credit card statement included $420 in cash advances and $4.40 in interest charges. The interest rate on the statement was 12.8%. For how many days was Bill charged interest?

5) Compute the future value of $540 over eight months at 4.75%.

6) Compute the present value of a debt of $690.00 eighty days before it is due if money is worth 3.9%.

Reference no: EM131113434

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Interest rate on the statement : 1) State r and t for: rate is 8.25%; time is 10 months. 2) Compute the amount of interest: $940.50 at 6.5% from October 12, 2013 to April 24, 2014. 3) Determine the deposit that must be made to earn $44.44 (interest) in 225 days at 3.15%.

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Interest rate on the statement

Reference no: EM131113434

Reference no: EM131113434

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