Lilian's Linens borrows $8,500, at 9 1/2% interest, for 144 days. If the bank uses the exact

Fantastic news! We've Found the answer you've been seeking!

Question:

Lilian's Linens borrows $8,500, at 9 1/2% interest, for 144 days. If the bank uses the exact interest method, how much interest will the bank collect?

Using the ordinary interest method, find the amount of interest on a loan of $7,500 at 7 1/2% interest, for 124 days.

Find the maturity value of a loan of $11,000, at 7% interest, for 18 years. Use the formula MV = P + I.

A loan is made on April 7 with a due date of July 18. For how many days is the loan?

Do not enter units in your answer.

A loan has a due date of August 11. If it is made on April 10, for how many days is the loan?

Do not enter units in your answer.

What is the maturity date of a loan taken out on March 19, for 46 days? (Note: Do not abbreviate. Example: Enter 'February 8')

On May 25, Lindsay took out a loan for $2,000, at 9% ordinary interest, for 71 days. What is the maturity date of the loan? (Note: Do not abbreviate. Example: Enter 'February 8')

Suppose that you took out a loan at 8% interest for 202 days. If the amount of interest was $381.56, use the ordinary interest method to find the amount of principal you borrowed. Round to the nearest whole dollar amount.

What is the rate of interest on a loan of $5,500, for 296 days if the amount of interest is $316.56, using the ordinary interest method? Round to the nearest tenth percent.

Do not enter the percent symbol in your answer.

Anny takes out a loan for $10,000, at 11% exact interest. If the amount of interest is $892.05, what is the time period of the loan? Round any fraction to the next higher day.

Enter a number only.

Jessy takes out a loan for $3,000, at 10% ordinary interest. If the amount of interest is $210.00, what is the time period of the loan? Round any fraction to the next higher day.

Enter a number only.

Juanita invests $3,000, at 5% interest, compounded annually for 3 years. Manually calculate the compound interest for this investment.

Sun Jung invests $8,500, at 10% interest, compounded semiannually for 2 years. Manually calculate the compound interest for this investment.

Carla invests $3,000, at 8% interest, compounded quarterly for 1 year. Manually calculate the compound interest for this investment.

You wish to have $15,500 in 12 years. Use Table 11-2 to find how much you should invest now at 11% interest, compounded annually in order to have $15,500, 12 years from now