Question
1) Second Law Venture Capital loaned Thane Magnomotor Corp $26,750,000 for 11 months. The maturity value of the note was $30,000,000. Determine the simple interest
1) Second Law Venture Capital loaned Thane Magnomotor Corp $26,750,000 for 11 months. The maturity value of the note was $30,000,000. Determine the simple interest rate for this loan.
2) Tamara deposited $2,650.49 in a CD paying 3.87% simple interest on January 28, 2008. The CD matured on November 11, 2008. Interest was calculated using bankers rule. What was the maturity value of this CD?
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Financial Management In The Public Sector Tools Applications And Cases
Authors: Xiaohu Wang
1st Edition
0765616785, 9780765616784
