Chapter 9 ia eto eeloed Precis Care te oti pens, Round dls rere hunt poets the ees wha pent | Find the simple interest 1 2 3. 4 Principat $5,700 $9,460 $4,500 $2,900 Rate 11% 159% 1196 16% B. Find the interest and maturity value Principal Rate $820 13% 860 1496 3,700 12% 55,600 149% . Calculate the ordinary Principal Rate 32,400 139% 31,750 129% 3980 13% $3,600 139% D. Find the maturity date. Assume no leap year 2. 2, 2B 24, March 10 (90-day) January 20 (120-day) September 13 (90-day) Iuly 25 (75-day) Time 3 mos. 4 mos 6 mos. 1 year Time 60 days 90 days 60 days 20 days Time 8 mas, 6 mas, 9 mos, 7 mos. Interest n interest and the exact simple interest on these loan, 360-Day Year 15. 15. v. 1. Date | Interest Maturity Vatue 6 8 10. 2 365-Day Year 4 feo 18. 20, BUSINESS MATH USING EXCEL(Cece creer eee erence cee Find the number of days between the dates, Assume no lep year, Q Days a tener 7 i poet 7 3 et EMMI wom Plea ISILSt ol sa mt ma ™ G. Find the bank discount and proceeds. The bank discounts rates at 129% two ‘months before the maturity ofthe loan, Foce Value Interest Rate Due Bank Discount Proceeds $5410 9% 3mos 33, Sate 3975 129% 4mos 3s. 36, 52,186 139% 6m 372, aw, 81,540 11% mos, 38, 40. H. Complete the following word problems. 41. Joyce Snicer’s savings account shows $3,282.50 on deposit, The annual interest rate is $295. Ater three months, the bak computes her interest. How much interest did Joyce's account earn? 42. James Johnson deposited a total of $980 in his savings account, The annual interest rate is 5296. How much interest did he ear at the lend of six months? 43. Maria Morales borrowed $3,650 at 1590 interest for 120 days. How ‘muuch ordinary interest did she pay based on a 360-day year? Pa eee EE EERE HEE eee EE eeSE eee eee) CHAPTER 9 + interestfolate I “44; Hector Sanchez borrowed money at 14% interest for 60 days. His {pletest forthe loan amounted to $39.20, based on a 360-day yor How much did he borrow? 45. Tien Chu borrowed §2,000 for 60 days (based on a 360-day year) Her interest amounted to $43.33. What was the interest raigd 46. Lycia's loan date is March 20, and her loan is due in 120 days What isthe due date? 47. Chihuho Enami obtained a loan on September 5, and itis due December 20, How many days are between the dates? 48 John Raymond's loan is $1,490 at a 14% interest rate. The interest amount is $69.53. What is the amount of time for this lose? 49. a. Anote has been signed for $3,800, the interest rate is 1496, and the time is 120 days (360-day year). How much is the interes How much is the maturity value? © The note was discounted at arate of 18.5% two months before its maturity: How much i the discount? d. How much are the proceeds? 50, The face value ofa note is $7,500, the interest rate 1: 128, and the tine is based on Poaivs 260-day year The note has been discounted at 15% two months hee rhe maturity of the note, How much were the discount an the provesars Discount __ Proceeds Compute the interest, compounded annually without using the compound interest table. Principal Rate gees) 51. $8,100 1% 2 52. $590 H% 2 58. $2,900 7% s 54, $1,800 85% 2