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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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alexaaaaaaa alexaaaaaaa
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6 years ago
Mr. and Mrs. Jacobson borrowed 5,000 at an ordinary simple interest rate of 11 for 180 days. If they took the loan out on October 16, what is the due date? Assume a nonleap year.

Q. 2

The face value on a loan is 18,500, the interest is 9.25, and the time is 18 months. The bank discounted the note at 15 three months before the maturity of the loan. What is the bank discount?

Q. 3

The face value of a note is 7,500 with an interest rate of 12. The time is based on 90 days in a 360-day year. The note has been discounted at 15 two months before the maturity of the note. How much is the discount and the proceeds?

Q. 4

What is the number of days in a loan that extends from January 21 to June 20? Assume a nonleap year.

Q. 5

What is the maturity due date on a 100-day loan that begins April 15?

Q. 6

Andy invests his savings into an account that compounds interest quarterly. To find the number of compounding periods, multiply the number of years of the investment times _______.
 Fill in the blank(s) with correct word
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charles654charles654
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alexaaaaaaa Author
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6 years ago
TYVM
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6 years ago
no worries, happy to help out
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