1:

Toyota Motor Corporation has faced tough times after losing production due to natural disasters. This, coupled with the yens appreciation against the dollar, has Toyota anticipating net profits 51% lower than last year. If Toyota had a 18,900 note at 2.5% interest for 360 days, what would Toyotas proceeds be if it discounted the note on day 240 at 5%? (Round your final answer to the nearest yen.)

5:

Hafers, an electrical supply company, sold $4,200 of equipment to Jim Coates Wiring, Inc. Coates signed a promissory note May 12 with 4.2% interest. The due date was August 10. Short of funds, Hafers contacted Charter One Bank on July 20; the bank agreed to take over the note at a 5.9% discount. (Use Days in a year table.)

What proceeds will Hafers receive? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.)

6:

The Treasury Department auctioned $20 billion in 3-month bills in denominations of $10,000 at a discount rate of 4.500%.

What would be the effective rate of interest? (Use calendar year. Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)

7:

On July 14, Sheffield Company discounted at Sunshine Bank a $8,400 (maturity value), 121-day note dated April 8. Sunshines discount rate was 10%. (Use Days in a year table.)

What proceeds did Sheffield Company receive? (Use 360 days a year. Do not round intermediate calculations.)

10:

Assume the $12,000 Treasury bill, 4% for 13 weeks. Calculate the effective rate of interest. (Use calendar year. Round your answer to the nearest hundredth percent.)