Financial math : | Business & Finance homework help

1. find the interest paid on a loan of $2800 for two years at a simple interest rate of 11% per year.

Connect with a professional writer in 5 simple steps

Please provide as many details about your writing struggle as possible

Academic level of your paper

Type of Paper

When is it due?

How many pages is this assigment?

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 value of a loan is $ (round to nearest cent)

3. Convert two years, expressed in decimal form to the nearest hundredth. Nine months.

Nine months = (round to nearest decimal)

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?

The rate of interest per year was (round to nearest decimal)

5. Find the exact interest on a loan of $32,600 at 7% annually for 20 days.

$(round to nearest cent)

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.

The exact time in a non-leap year is 546 days
the exact time in a leap year is 547 days

7. A loan is made on March 20 for 181 days. Find the due date.

September 17

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.

The exact interest is $50.14

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.

The adjusted balance due at maturity is $14,579.76

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?

The interest saved is $(round to nearest cent)

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’s rule)

The discount is $

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’s rule.

The effective interest rate is %

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)

The proceeds are $4107.34

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.

The future value of the loan is $4686.64
the compound interest is $686.64

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.

The future value of the loan is $1344.89
the compound interest is $344.89

16. Tom Bond borrowed $6200 at 6 ½% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan?

The compound amount is $7489.29
the compound interest is $1289.29

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. 

John was required to pay $2855.30 of interest

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.

The future value of the investment is $12,994.28

19. Find the effective interest rate for a loan for four years compounded semiannually at an annual rate of 2%.

The effective interest rate is 2.01%

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.

The interest is $

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.

The present value is $

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.

The amount of money to be set aside is $

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.

The amount of money to be set aside is $

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

 

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 day of the loan. 30th is Feb 1st 60th day is Mar. 1st Apr. 1st is 90th

 

 

 

The adjusted balance due at maturity is

 

 

 

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)

 

 

 

The proceeds are $

 

 

 

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

 

 

 

16. Tom Bond borrowed $6200 at 6 ½% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan?

 

 

 

The compound amount is $

 

the compound interest is $

 

 

 

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

 

 

 

John was required to pay $ of interest

 

 

 

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

 

 

 

The future value of the investment is $

 

 

 

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.

 

 

 

The effective interest rate is %

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our Guarantees

At 111papers.com, we value all our customers, and for that, always strive to ensure that we deliver the best top-quality content that we can. All the processes, from writing, formatting, editing, and submission is 100% original and detail-oriented. With us, you are, therefore, always guaranteed quality work by certified and experienced writing professionals. We take pride in the university homework help services that we provide our customers.

Money-Back Guarantee

As the best homework help service in the world, 111 Papers ensures that all customers are completely satisfied with the finished product before disbursing payment. You are not obligated to pay for the final product if you aren’t 100% satisfied with the paper. We also provide a money-back guarantee if you don’t feel that your paper was written to your satisfaction. This guarantee is totally transparent and follows all the terms and conditions set by the company.

Read more

Zero-Plagiarism Guarantee

All products that we deliver are guaranteed to be 100% original. We check for unoriginality on all orders delivered by our writers using the most advanced anti-plagiarism programs in the market. We, therefore, guarantee that all products that we submit to you are 100% original. We have a zero-tolerance policy for copied content. Thanks to our strict no plagiarized work rule, you can submit your homework to your professor without worrying.

Read more

Free-Revision Policy

TThis is one of the most cherished courtesy services that we provide to help ensure that our customers are completely satisfied with our finished products. Delivering the best final product to our customers takes multiple inputs. 111papers.com prides itself on delivering the best university homework help services in the writing industry. And, in part, our free revision policy is how we do it. What’s more, all our revisions are 100% free without any strings attached.

Read more

Privacy Policy

Client privacy is important to use. We know and understand just how important customers value their privacy and always want to safeguard their personal information. Thus, all the information that you share with us will always remain in safe custody. We will never disclose your personal information to any third party or sell your details to anyone. 111 Papers uses the most sophisticated, top-of-the-line security programs to ensure that our customers’ information is safe and secured.

Read more

Fair-Cooperation Guarantee

Placing your order with us means that you agree with the homework help service we provide. We, in turn, will endear to ensure that we do everything we can to deliver the most comprehensive finished product as per your requirements. We will also count on your cooperation to help us deliver on this mandate. Yes, we also need you to ensure that you have the highest-quality paper.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency