What is the effective interest rate of a simple discount

Assignment Help Financial Management

Reference no: EM131529269

A) Find the bank discount and proceeds using ordinary interest for a loan to Michelle Anders for $7,200 at 8.25% annual simple interest from August 8 to November 8.

B) What is the effective interest rate of a simple discount note for $8,000, at an ordinary bank discount rate of 11%, for 120 days?

Reference no: EM131529269

Questions Cloud

Determine if there is enough money for making withdrawal : An IF statement can be used to determine if there is enough money for making a withdrawal.

Write an essay and integrate biblical reference : Write a 2-3 page double spaced essay and integrate biblical reference with talking point: How do these passages of Scripture apply to the topic of nutrition?

How much will accumulate into the savings fund by the time : how much will accumulate into the savings fund by the time the last deposit is made?

Require a qualitative method : Require a qualitative method. The interview process includes open-ended unstructured or structured questions.

What is the effective interest rate of a simple discount : What is the effective interest rate of a simple discount note for $8,000, at an ordinary bank discount rate of 11%, for 120 days?

Find the compound amount and the compound interest : A loan of $8,000 for two acres of woodland is compounded quarterly at an annual rate of 6% for ?ve years. Find the compound amount and the compound interest.

Describe a process of conducting the dismissal meeting : Describe a step-by-step process of conducting the dismissal meeting. Predict three (3) ways that this layoff may affect the company

Comprehensive leadership plan for your own style : Develop a four- or five-page comprehensive leadership plan for your own style of leadership.Include strengths and weaknesses for yourself.

When the firm is expected to be sold to an acquiring company : Firmin Technologies is expected to earn $6.25 million (NI) in year 5, when the firm is expected to be sold to an acquiring company.

User Account

All Pages