What is the effective interest rate and trade discount

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Reference no: EM13271031

1. A man has a simple discount note for 6,600, at an ordinary bank discount rate of 8.72% for 60 days. What is the effective interest rate?

2. A home decorating company is determining the amount of fabric required for a customers window treatment. A single window requires 11 2/3 yards and a double window requires 18 5/6 yards of fabric. If there are 2 single windows and one double window, how much fabric is required?

3. Round 517 to the 10ths place.

4. Find the interest paid on a loan of 2600, for one year at a simple interest rate of 11% per year. The interest on the loan is?

5. Find the future value and compound interest on 4,000 at 4% compounded semiannually for 2 years.

6. Calculate the trade discount for 25 boxes of computer paper if the unit price is $14.03, and a single trade discount rate of 45% is allowed. The Trade Discount is?

Reference no: EM13271031

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