Question
13. Find the maturity value of a $2,000, six-month promissory note with interest at 3.5% dated May 31, 2021. The term ends on November 30,
13. Find the maturity value of a $2,000, six-month promissory note with interest at 3.5% dated May 31, 2021. The term ends on November 30, 2021. Do not include the end date in the calculation.
23. On August 1, 2022, your company invested $38,900 which matures on November 15, 2022. An investment of this length earns a rate of interest of 1.3%. What is the future value of the investment? Include the end date in the calculation.
32. If interest on a short-term loan is one-fourth of the principal amount and the term of the loan in years is equal to the rate of interest in percentage. Find the rate of interest.
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