Navy Federal Credit Union borrows $16000000 at 8% for 88 days from the large bank Citigroup. Find the interest and the future value of the loanOn September 30, Ace Hardware borrowed $129000 to finance the construction of a new garden center. The 7 month loan has a rate of 8%. Find the interest paid on the loan and the maturity value of the note.Shore Law Firm agrees to purchase a $100,000 (future value) bond, with a term of 25 weeks at a 3% simple discount rate. However, the firm needs cash exactly 17 weeks later and sells the bond to an investment bank. During the 17 weeks, market interest rates changed slightly so that the bill was sold at a 4% discount rate. 

Find the initial purchase price (present value) of the bond, the proceeds received by the firm at the subsequent sale of the bond, and the effective interest rate received by the law firm

Answer rating: 100% (QA)

1 Navy Federal Credit Union Loan Principal P 16000000 Rate r 8 Time t 88 days 88365 years Interest I ... View the full answer