Joan Leshner borrowed money to repair her house. The bank charged 13.8 simple interest. If the loan ...

Joan Leshner borrowed money to repair her house. The bank charged 13.8 simple interest. If the loan was repaid in 2 years, and the amount of interest was 1,518, how much did Joan borrow?

Q. 2

Find the current yield of a bond whose coupon rate is listed as 6.125 and currently selling at a discount of 87.50. (Round to the nearest tenth percent)
 A) 7.8
  B) 7.0
  C) 9.3
  D) 10.2

Q. 3

Street's Candy Shop needs to borrow 50,000 for 120 days. If the interest rate for such loans is currently 12.4, how much can Street save by finding a lending institution that uses the exact interest method rather than the ordinary interest method? (Round to the nearest cent)

Q. 4

You purchase 10 bonds with a coupon rate of 9 and a current market price of 101.125. The commission charge is 5.00 per bond. The date of the transaction is October 1, and the bond pays interest on January 1 and July 1. What is your total purchase price?
 A) 10,392.50
  B) 10,387.50
  C) 10,395.10
  D) 10,391.90