3. Bob's BBQ signed a note with a face value of $19,800.00 on September 11. The note is for 90 days and carries an interest rate of 8%. Find the due date and the maturity value of the note. O December 11, $21,384.00 O December 10, $20,196.00 O December 12, $19,800.00 O December 11, $20,328.00 4. Hargray Telephone earned $150 interest on a $20,000 deposit in an M account paying 3%. Find the number of days that the funds were on deposit. AM 25 days 91 days O 90 days 135 days 2 PM 3:33 PM 30'C ~ 9 504ENG 25/6/20225. Web's Pancake House earned $600 interest in 240 days from an investment that paid 3.5%. Find the amount initially invested. $17,143 O O $25,714 O $12,857 O $26,071 6. Jackson Moving Co. borrowed $9400 for 125 days and paid $244.79 in interest. Find the rate of interest on the loan. 77% 7 0% 7 5% 8 0% arb ddiscount rate of 9%. Find the1. Anita bought a new computer system. To pay for the system, she borrowed $5730 from the credit union at 8 % interest for 115 days. Find the interest. $504.24 O $161.08 O $158.87 $159.68 2. Frank borrowed $56,443 from the bank at 8.6% for 360 days to expand his bike shop. Find the maturity value. 561.365 47 O $61.297.10 $61.363 59 $61 097 619. Mark Golden needs $9213.82 to pay for remodeling work. His bank loans money at a discount rate of 7% for 180 days. Find the face value of a loan so he will have $9213.82. O $9858.79 O $9543.26 $9213.82 $9548.00 10. Sam Peters signs a $4100 note. His bank charges a 10% discount rate. Find the effective rate charged by the bank if the note is for 9 months. 10.9% 9.7% 10 8% 10.0% 3:33 PM11. Andrea Gilford's savings account has a balance of $4582. After 4 years, what will the amount of interest be at 4% compounded quarterly? $91.64 O $781.76 $795.76 OO $790.76 12. A bank has $900,000 to lend for 7 months. It can lend it to a local contractor at a simple interest rate of 12%, or it can lend it to a small business that will pay 12% compounded monthly. If the bank wants to maximize its interest earned, who should receive the loan and what is the additional interest earned? Contractor $1926 00 Contractor, $43 074 00 Business $1926 00 O Business $1 026 612 00 3:33 PM 13 0) ENG7. A $5000 note is signed, for 240 days, at a discount rate of 9%. Find the proceeds. O $4700.00 O $5000.00 O $4704.11 $4550.00 8. Leon Harding receives proceeds of $5812 after signing a 90-day note for $5900. Find the discount rate. O 3.0% O 1.5% O 60% 4.0% mob 13 3) to pay for remodeling work. His bank15. If Bob deposits $5000 at the end of each year for 12 years in an account paying 8% interest compounded annually, find the amount he will have on deposit. M $107,476.48 $89,885.63 $83,227.44 M O $94,885.63 M 16. Sandra deposits $3000 at the beginning of each semiannual period for 15 years at 8% interest compounded semiannually. Find the amount she will have on deposit. M $165 254.61 O 587 972 86 $155 898 86 $174 985 01 3:34 PM PM 25/6/202217. Gretta wants to retire in 13 years. At that time she wants to be able to withdraw $12,500 at the end of each 6 months for 7 years. Assume that money can be deposited at 8% per year compounded semiannually. What exact amount will Gretta need in 13 years? M O $138,979.88 O $492,961.00 O $124,820.63 PM O $132,039.04 PM 18. Find the amount of each payment into a sinking fund if $5000 must be accumulated. Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly AM $1641 90 O $383 40 $421 45 $296 40 3:34 PM 2PM 25/6/202213. Universal Bank lends $5,000,000 for 1 14 years at 10% compounded quarterly to Shining Shores Development Company to fund the building of a condominium complex. Find the future value. O $5,657,041.06 O $5,625,000.00 O $8,052,550.00 O $5,632,650.00 14. Barbara knows that she will need to buy a new car in 2 years. The car will cost $15,000 by then. How much should she invest now at 10%, compounded quarterly, so that she will have enough to buy a new car? $13.605.44 511 269 72 O $12 311 25 O $13 636 3619. Marge and Tom Martin bought a new car for $30,000. They agreed to pay 20% down and make monthly payments for 4 years at 10% (compounded monthly) to pay off the rest. Find the monthly payment. O $2425.00 O $774.41 O $608.66 O $760.80 20. The Meyers bought a Sandwich City franchise for $400,000. They paid $80,000 of their own money and borrowed the rest, agreeing to make semiannual payments over 8 years at 8% (compounded semiannually). Find the semiannual payment. 546 456 40 O 562 955 94 $27 462 40 3:34 PM $ ENG