{"id":16239,"date":"2021-11-16T11:23:44","date_gmt":"2021-11-16T11:23:44","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/multiple-question-business-finance-homework-help\/"},"modified":"2021-11-16T11:23:44","modified_gmt":"2021-11-16T11:23:44","slug":"multiple-question-business-finance-homework-help","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/multiple-question-business-finance-homework-help\/","title":{"rendered":"Multiple question | Business & Finance homework help"},"content":{"rendered":"
\n

1. find the interest paid on a loan of $2800 for two years at a simple interest rate of 11% per year.<\/p>\n

The interest on a loan is $<\/p>\n

2. Find the maturity value of a loan of $2400.00 after three years. The loan carries a simple interest rate of 7.7% per year.<\/p>\n

The maturity value of a loan is $ (round to nearest cent)<\/p>\n

3. Convert two years, expressed in decimal form to the nearest hundredth. Nine months.<\/p>\n

Nine months = (round to nearest decimal)<\/p>\n

4. A man needed money to buy lawn equipment. He borrowed $800.00 for five months and paid $53.95 in interest. What was the rate of interest?<\/p>\n

The rate of interest per year was (round to nearest decimal)<\/p>\n

5. Find the exact interest on a loan of $32,600 at 7% annually for 20 days.<\/p>\n

$(round to nearest cent)<\/p>\n

6. A loan made on March 13 is due September 10 of the following year. Find the exact time for the loan in a non-leap year and a leap year.<\/p>\n

The exact time in a non-leap year is 546 days
the exact time in a leap year is 547 days<\/p>\n

7. A loan is made on March 20 for 181 days. Find the due date.<\/p>\n

September 17<\/p>\n

8. A loan for $2000 with a simple annual interest rate of 15% was made on June 18 and was due on August 18. Find the exact interest.<\/p>\n

The exact interest is $50.14<\/p>\n

9. Find the adjusted balance due at maturity for a 90 day note of $18,000 at 13.8% ordinary interest is a partial payment of $4000 is made on the 60th day of the loan.<\/p>\n

The adjusted balance due at maturity is $14,579.76<\/p>\n

10. Raul Fletes borrowed $7000 on a 210 day note that required ordinary interest at 13.41%. Raul paid $3500 on the note on the 140th day. How much interest did he save by making the partial payment?<\/p>\n

The interest saved is $(round to nearest cent)<\/p>\n

11. A man makes a simple discount note with a face value of $2700, a term of 140 days, and a 18% discount rate. Find the discount.(use banker\u2019s rule)<\/p>\n

The discount is $<\/p>\n

12. A man has a simple discount note for $6100, at an ordinary bank discount rate of 8.53%, for 50 days. What is the effective interest rate? Round to the nearest 10th of a percent. Use banker\u2019s rule.<\/p>\n

The effective interest rate is %<\/p>\n

13. A man holds a note of $5000 that has an interest rate of 14% annually. The note was made on March 19 and is due November 12. He sells the note to a bank on June 12 at a discount rate of 13% annually. Find the proceeds on the third-party discount note. (Use the bankers rule)<\/p>\n

The proceeds are $4107.34<\/p>\n

14. A loan of $4000 at 4% is compounded semiannually for four years. Find the future value and compound interest. Use the $1.00 future value table or the future value and compound interest formula.<\/p>\n

The future value of the loan is $4686.64
the compound interest is $686.64<\/p>\n

15. A loan of $1000 and 30% is compounded monthly for one year. Find the future value and compound interest. Use a $1.00 future value table or the future value and compound interest formula.<\/p>\n

The future value of the loan is $1344.89
the compound interest is $344.89<\/p>\n

16. Tom Bond borrowed $6200 at 6 \u00bd% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan?<\/p>\n

The compound amount is $7489.29
the compound interest is $1289.29<\/p>\n

17. A bank loaned ***** ***** $4000 for seven years compounded annually at 8%. How much interest was John required to pay on the loan? Use the $1.00 future value table or the future value and compound interest formula. <\/p>\n

John was required to pay $2855.30 of interest<\/p>\n

18. Find the future value of an investment of $12,000 if it is invested for four years and compounded semiannually at an annual rate of 2%. Use the $1.00 future value table or the future value and compound interest formula.<\/p>\n

The future value of the investment is $12,994.28<\/p>\n

19. Find the effective interest rate for a loan for four years compounded semiannually at an annual rate of 2%.<\/p>\n

The effective interest rate is 2.01%<\/p>\n

20. Find the compound interest on a $2000 investment at .5% compounded daily for 17 days. The compound of interest of $100 compounded daily is 0.023290.<\/p>\n

The interest is $<\/p>\n

21. Find the amount that should be set aside today to yield the desired future amount. Future amount needed, $5000, interest rate, 8%, compounding., Semiannually, investment time, two years. On the chart the present value of $1 at 12% is 0.79719.<\/p>\n

The present value is $<\/p>\n

22. Compute the amount of money to be set aside today to ensure a future value of $2700 in one year if the interest rate is 1.5% annually, compounded annually.<\/p>\n

The amount of money to be set aside is $<\/p>\n

23. Ronnie Cox has just inherited $27,000. How much of this money should be set aside today to have $22,000 to pay cash for a Ventura Van, which he plans to purchase in one year? He can invest at 1.7% annually, compounded annually.<\/p>\n

The amount of money to be set aside is $<\/p>\n

24. Dewey Sykes plans to open a business and eight years when he retires. How much must he invest today to have $5000 when he retires if the bank pays 3% annually, compounded semiannually?
Present value of<\/p>\n

\u00a0<\/p>\n

9. Find the adjusted balance due at maturity for a 90 day note of $15,000 at 13.1% ordinary interest is a partial payment of $4000 is made on the 60th<\/sup> day of the loan. 30th<\/sup> is Feb 1st<\/sup> 60th<\/sup> day is Mar. 1st<\/sup> Apr. 1st<\/sup> is 90th<\/sup><\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

The adjusted balance due at maturity is<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

13. A man holds a note of $5000 that has an interest rate of 14% annually. The note was made on March 19 and is due November 12. He sells the note to a bank on June 12 at a discount rate of 13% annually. Find the proceeds on the third-party discount note. (Use the bankers rule)<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

The proceeds are $<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

14. A loan of $6000 at 7% is compounded semiannually for two years. Find the future value and compound interest. Use the $1.00 future value table or the future value and compound interest formula. Future Value or Compound Amount of $1 at 7% is 1.1449<\/span><\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

16. Tom Bond borrowed $6200 at 6 \u00bd% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan?<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

The compound amount is $<\/p>\n

\u00a0<\/p>\n

the compound interest is $<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

17. A bank loaned ***** ***** $4000 for four years compounded annually at 7%. How much interest was John required to pay on the loan? Use the $1.00 future value table or the future value and compound interest formula. Future value or compound amount of $1 at 7% is 1.31080<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

John was required to pay $ of interest<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

18. Find the future value of an investment of $10,000 if it is invested for four years and compounded semiannually at an annual rate of 4%. Use the $1.00 future value table or the future value and compound interest formula. Future value or compound amount of $1 at 4% is 1.16986<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

The future value of the investment is $<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

19. Find the effective interest rate for a loan for three years compounded semiannually at an annual rate of 2%. Future value or compound amount of $1 at 2% is 1.06121.<\/span><\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

The effective interest rate is %<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

1. find the interest paid on a loan of $2800 for two years at a simple interest rate of 11% per year. The interest on a loan is $ 2. Find the maturity value of a loan of $2400.00 after three years. The loan carries a simple interest rate of 7.7% per year. The maturity […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-16239","post","type-post","status-publish","format-standard","hentry","category-homework-help"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/16239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=16239"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/16239\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=16239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=16239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=16239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}