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WORD PROBLEMS Jse ordinary interest as needed. 11-8. Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19.500 at 8% for 2 years. Compare the proceeds. LU IT.(3) 11-9. Paul and Sandy Moede signed an $8.000 note at Citizen's Bank. Citizen's charges a 6% discount rate. If the loan is for 300 days, find (a) the proceeds and (b) the effective rate charged by the bank to the nearest tenth percent). LU 11-1(3) 11-10. You were offered either a simple interest note or a simple discount note with the following terms: $33.353 at 7% for 18 months. Based on the effective interest rate, which would you choose? LU 11-13) 11-11. On September 5, Sheffield Company discounted at Sunshine Bank a $9.000 (maturit 2.000 (maturity value) 120-day note dated June 5. Sunshine's discount rate was 9%. What proceeds did Sheffield Company eld Company receive? LU 11-2(1) in 3-month bills in denominations of $10.000 at a discount of interest? Round only your final answer to the nearest 11-12. 11-12. The of 4.965% Whar The Treasury Department auctioned 521 billion in 3-month bills in dena rate of 4.965%. What would be the effective rate of interest? Round hundredth percent. LU 11-14) 11-1(4) WORD PROBLEMS Jse ordinary interest as needed. 11-8. Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19.500 at 8% for 2 years. Compare the proceeds. LU IT.(3) 11-9. Paul and Sandy Moede signed an $8.000 note at Citizen's Bank. Citizen's charges a 6% discount rate. If the loan is for 300 days, find (a) the proceeds and (b) the effective rate charged by the bank to the nearest tenth percent). LU 11-1(3) 11-10. You were offered either a simple interest note or a simple discount note with the following terms: $33.353 at 7% for 18 months. Based on the effective interest rate, which would you choose? LU 11-13) 11-11. On September 5, Sheffield Company discounted at Sunshine Bank a $9.000 (maturit 2.000 (maturity value) 120-day note dated June 5. Sunshine's discount rate was 9%. What proceeds did Sheffield Company eld Company receive? LU 11-2(1) in 3-month bills in denominations of $10.000 at a discount of interest? Round only your final answer to the nearest 11-12. 11-12. The of 4.965% Whar The Treasury Department auctioned 521 billion in 3-month bills in dena rate of 4.965%. What would be the effective rate of interest? Round hundredth percent. LU 11-14) 11-1(4)
