You are supposed to make three payments 550 in 4 months 780

Reference no: EM13616585

1)Starting with $2,000 on March 3, you deposit $500 23 days from March 3, withdraw $800 69 days from March 3, and deposit $600 121 days from March 3. If your final balance is $2,458 150 days from March 3, what is the simple interest rate for your account? Use the Bankerâ??s rule.

2)You borrow $5,000 at a simple 15% interest rate from your friend for 18 months in order to purchase new furniture and sign on a promissory note on your borrowing. 5 months later, your friend sells the promissory note to a bank that charges a 20% discount rate (Bank discount). How much would your friend receive from the sale of the promissory note?

3)You are supposed to make three payments, $550 in 4 months, $780 in 11 months, and $300 in 20 months. If you want to discharge your debt in 15 months with a single payment and the interest rate is 9% compounded monthly, what would the single payment be?

Reference no: EM13616585

Questions Cloud

You want to buy a new sports car from muscle motors for : you want to buy a new sports car from muscle motors for 86000. the contract is in the form of a 72-month annuity due at

Lily estimates that her time to fall asleep each night is : lily estimates that her time to fall asleep each night is approximately exponentially distributed. it takes her an

A small business owner visits his bank to ask for a loan : a small business owner visits his bank to ask for a loan. the owner states that she can repay a loan at 1250 per month

Find the mean and standard deviation of the resulting : rolling a fair twelve-sided die produces a uniformly distributed set of numbers between 1 and 12 with a mean of 6.5 and

You are supposed to make three payments 550 in 4 months 780 : 1starting with 2000 on march 3 you deposit 500 23 days from march 3 withdraw 800 69 days from march 3 and deposit 600

A proton is released from rest at the positive plate of a : a proton is released from rest at the positive plate of a parallel-plate capacitor. it crosses the capacitor and

A proton is released from rest in a uniform electric field : a proton is released from rest in a uniform electric field of magnitude 421 nc. a find the electric force on the

Two point charges are on the y-axis a 50 microc charge is : two point charges are on the y-axis. a 5.0 microc charge is located at y 1.15 cm and a -2.32 microc charge is located

Chocolate-coated sugar fun blast cereal is filled in boxes : chocolate-coated sugar fun blast cereal is filled in boxes by weight. the weight of the boxes is approximately normally

User Account

All Pages