(11. Austin Blake borrowed $12,000 on a 11% 240-day note. On the 90th day, he paid $3,800 on the note. If ordinary interest is applied, what is Austin's adjusted balance due at maturity? $8,920.96 $3,470 $8,530 $8,200 12. What is the effective interest rate of a simple discount note for $10,000 at an ordinary bank discount rate of 9%, for 120 days? Round to the nearest tenth percent. 9% 9.3% $300 1.0% alan . Shirdim 4. Mary Watts borrowed $562 on June 24 for sixty days with a 365-day year. What is the date of repayment or the maturity date? August 24 August 22 August 25 August 23 5. Convert 7 months to a decimal part of a year. 0.714 0.583 1.714 0.0583 6. Use the simple interest formula to find the rate on an $1,800 loan for which the interest was $20 for 40 days (use a 360-day year). 10% 20% 1.0% 0.1% 11. The method of lending money at ordinary interest using exact time is called the customer's rule preferred rule standard rule banker's rule 12. If money is borrowed from a bank at a simple interest rate, the bank often collects the interest, which is also called the at the time the loan is made. bank discount broker's discount customer's discount principal discount 13. In a discounted note, the amount the maker receives after subtracting the discount is called the pront proceeds O maturity value principal 14. . discount note is made when a bank buys a promissory note from a business. third-party simple promissory corporate 15. I = PRT is the exact interest formula ordinary interest formule simple interest formula compound interest formula 6. is the number of days, months, or years that the money is borrowed or invested. Rate Principal Time Mortgage 7. value is the amount of the loan plus the interest. Loan Maturity Initia Opening The interest rate is the lowest rate at which money is loaned to the most preferred borrowers. main O prime value 9. time is based on counting 30 days in each month. Exact Preferred Ordinary Common 10. time is based on counting the actual number of days in a time period. v Exact Ordinary O Latene Preferred The price paid for using money is called principal rate interest loan interest applies when interest for each year is based on the amount of the loan or investment. Compound Simple O Linear Quadratic interest most often applies to savings accounts, installment loans, and credit cards and is based on the accumulated amount. Compound Simple Linear Quadratic is the amount of money borrowed or invested. Interest Principal Principle Rate 5. _ is the percent of the principal paid as interest per time period. Principal O Interest O Rate Principle 1. A factory produces two types of products and uses two types of raw materials A and B as explained in the following table Product First Second Raw material A 5 3 Raw material B 3 6 The amounts available of the materials A and B are 15 kg and 18 kg respectively. If the selling price for the first product is 2 SAR/unit and 3 SAR/unit for the second product then find the linear programming model that determine the quantity of each product produced in order to obtain the maximum possible profit. Find the solution of this model using graphical method. (11. Austin Blake borrowed $12,000 on a 11% 240-day note. On the 90th day, he paid $3,800 on the note. If ordinary interest is applied, what is Austin's adjusted balance due at maturity? $8,920.96 $3,470 $8,530 $8,200 12. What is the effective interest rate of a simple discount note for $10,000 at an ordinary bank discount rate of 9%, for 120 days? Round to the nearest tenth percent. 9% 9.3% $300 1.0% alan . Shirdim 4. Mary Watts borrowed $562 on June 24 for sixty days with a 365-day year. What is the date of repayment or the maturity date? August 24 August 22 August 25 August 23 5. Convert 7 months to a decimal part of a year. 0.714 0.583 1.714 0.0583 6. Use the simple interest formula to find the rate on an $1,800 loan for which the interest was $20 for 40 days (use a 360-day year). 10% 20% 1.0% 0.1% 11. The method of lending money at ordinary interest using exact time is called the customer's rule preferred rule standard rule banker's rule 12. If money is borrowed from a bank at a simple interest rate, the bank often collects the interest, which is also called the at the time the loan is made. bank discount broker's discount customer's discount principal discount 13. In a discounted note, the amount the maker receives after subtracting the discount is called the pront proceeds O maturity value principal 14. . discount note is made when a bank buys a promissory note from a business. third-party simple promissory corporate 15. I = PRT is the exact interest formula ordinary interest formule simple interest formula compound interest formula 6. is the number of days, months, or years that the money is borrowed or invested. Rate Principal Time Mortgage 7. value is the amount of the loan plus the interest. Loan Maturity Initia Opening The interest rate is the lowest rate at which money is loaned to the most preferred borrowers. main O prime value 9. time is based on counting 30 days in each month. Exact Preferred Ordinary Common 10. time is based on counting the actual number of days in a time period. v Exact Ordinary O Latene Preferred The price paid for using money is called principal rate interest loan interest applies when interest for each year is based on the amount of the loan or investment. Compound Simple O Linear Quadratic interest most often applies to savings accounts, installment loans, and credit cards and is based on the accumulated amount. Compound Simple Linear Quadratic is the amount of money borrowed or invested. Interest Principal Principle Rate 5. _ is the percent of the principal paid as interest per time period. Principal O Interest O Rate Principle 1. A factory produces two types of products and uses two types of raw materials A and B as explained in the following table Product First Second Raw material A 5 3 Raw material B 3 6 The amounts available of the materials A and B are 15 kg and 18 kg respectively. If the selling price for the first product is 2 SAR/unit and 3 SAR/unit for the second product then find the linear programming model that determine the quantity of each product produced in order to obtain the maximum possible profit. Find the solution of this model using graphical method