Find the interest rate to the nearest tenth on the proceeds for the following simple discount notes. $5,000; discount rate 8.1%; length of loan 6 months.
Answer to relevant QuestionsA $100,000 certificate of deposit held for 60 days is worth $101,133.33. To the nearest tenth of a percent, what interest rate was earned?Find the amount of interest earned by each of the following deposits: $27,630.35 at 4.4% compounded quarterly for 3.7 years.The consumption of electricity has increased historically at 6% per year. If it continues to increase at this rate indefinitely, find the number of years before the electridc utilities will need to double their generating ...Compute the cost of the cash discount based on the three policies under consideration. Recall the total credit sales were $18 million. Multiply total credit sales times the percent that use the discount for each new discount ...Filer manufacturing has 9.6 million shares of common stock outstanding. The current share price is $46, and the book value per share is $4. Filer manufacturing also has two bond issues outstanding. The first bond issue has a ...
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