Claudio takes out a $4000 simple interest loan. It is a 120-day loan at 4% interest.

1. Find the simple interest and maturity value using exact interest calculations.
2. Find the simple interest and maturity value using ordinary interest calculations.
3. Is it better for Claudio if the bank he is borrowing from uses exact interest or ordinary interest? Explain.

New equipment for a chemistry lab is sold for $6350 after a 25% markup on cost.

1. Find the cost.
2. Find the amount of markup.
3. Find the percent markup on selling price.

After a series trade discount of 10/20, a computer has a net cost of $466.56. Find the list price.

For each problem, write an explanation of how to solve the problem. Include a complete solution, showing all work.

Answer rating: 100% (QA)

Simple Interest Loan Exact Interest Calculations The exact interest formula is I PRT where I is the interest P is the principal the amount of the loan ... View the full answer