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Ekanki
Questions (14)
The main concept to investing is diversify your investments. The old saying of “don’t put all of your eggs in one basket”
1 answer
598 views
Leslie Hart borrowed $15,900 to pay for her child’s education at Riverside Community College. Leslie must repay the loan at
1 answer
973 views
On September 20, Jody Jansen went to Sunshine Bank to borrow $3,900 at 5% interest. Jody plans to repay the loan on January 27.
1 answer
1,784 views
May. 10, 2010, Leven Corp. negotiated a short-term loan of $705,000. The loan is due Oct. 2, 2010, and carries a 7.06% interest
1 answer
944 views
Gordon Rosel went to his bank to find out how long it will take for $1,900 to amount to $2,420 at 7.8% simple interest.
Please
2 answers
2,965 views
Bill Moore is buying a used Winnebago. His April monthly interest at 10% was $128.
What was Bill’s principal balance at the
3 answers
1,047 views
Lane French had a bad credit rating and went to a local cash center. He took out a $103 loan payable in five weeks at $123.
What
1 answer
676 views
Lane French had a bad credit rating and went to a local cash center. He took out a $103 loan payable in five weeks at $123.
What
0 answers
444 views
On September 14, Jennifer Rick went to Park Bank to borrow $2,500 at interest. Jennifer plans to repay the loan on January 27.
2 answers
3,595 views
Margie Pagano is buying a car. Her June monthly interest at 12.5% was $201. What was Margie’s principal balance at the
1 answer
512 views
Carol Miller went to Europe and forgot to pay her $750 mortgage payment on her New Hampshire ski house. For her 45 days overdue
1 answer
587 views
Joy Kirby made a $320 loan to Robinson Landscaping at 11%. Robinson paid back the loan with interest of $7.04.
How long in days
1 answer
734 views
Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 20. She sent the payment November
1 answer
995 views
Margie Pagano is buying a car. Her June monthly interest at 12.5% was $201. What was Margie’s principal balance at the
1 answer
904 views
Answers (13)
Savings account interest earned $ 56.40 CD interest earned $ 82.56 Difference in interest earnings $ 26.16 Explanation: Savings account interest earned: $2,400 × 0.0235 = $56.40 CD interest earned: $2,400 × 0.0344 = $82.56 Difference in interest
a) Interest $ 298.12 b)Maturity value $ 16,198.12 a: $15,900 × 0.0375 ×6/12 =$298.13 b: MV = P + I = $15,900 + $298.13 = $16,198.13
A) Interest $ 69.87 B) Maturity value $ 3,969.87 Explanation: a: 365 Sept. 20= – 263 ________ 102 + 27 __________ 129 $3,900 ×0.05 × 129/360 = $69.88 interest b: $69.88 + $3,900 = $3,969.88
Maturity value $ 725,047.45 Explanation: Due date of loan Oct. 2 = 275 day of year Date of loan May. 10 = - 130 day of year __________________ 145 days on loan (time) __________________ P R T $705,000 × 0.0706 × 145/360 =$20,047.46 Interest $ 705,000.00
Time 3.5 years Explanation: $520 $520 _______________ = ______ = 3.5 years $1,900 × 0.078 $148.20
Principal $ 15,360 Explanation: $128 $128 _______________ =________ =$15,360 0.10 × 30 / 360 0.00833
Principal $ 15,360 Explanation: $128 = $128 = $15,360 0.10 × 30 / 360 0.00833
Percentage of Interest = 201.94 % Explanation: $ 123 – 103 ___________ $ 20 Interest P R T 5 103 × ? × ______ 52 $20.00 __________ = 201.94% interest paid on loan 9.903846154
a) Interest $ 110.15 b) Total amount $ 2,610.15 Explanation: 365 September 14 – 257 _______ 108 + 27 _______ 135 ________ $2,500 × 0.1175 × 135/360 = $110.16 + + $2,500 = $2,610.16
Explanation: $201 $201 _________________ =____________ = = $19,296.00 0.125 × 30/360 0.0104167
Interest charged 17.06 Explanation: $16 R = = 17.07% $750 × 45 360
Period= 72 Explanation: T = $7.04 = 0.20 × 360 = 72 days $320 × 0.11 Check: $320 × .11 × 72 = $7.04 360
Penalty $259.62 ± 0.01 Explanation: Nov. 12 → 316 Apr. 20 → – 110 206 $4,600 × 0.10 × 206 = $259.62 365
