Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Calculate the maturity value of a 180-day note for $4000 dated August 18 if the rate of interest is 7.5%. Select one: O A. 5504.11

image text in transcribed

image text in transcribed

Calculate the maturity value of a 180-day note for $4000 dated August 18 if the rate of interest is 7.5%. Select one: O A. 5504.11 O B. 5479.45 O C. 4440.41 O D. 4147.95 O E. 4150.41 Bana received Scotiabank American Express (Amex) gold card, where the interest is charged at 18.9% per annum. The bill is issued on 16th of every month and is due on 4th of next month. She used her Amex card for the following transactions in the month of July: July 1 July 4 July 10 July 15 Purchased some fireworks for Canada Day for a total of $67.35 Across the US border, took a cash advance worth $124.79 Canadian Booked a return flight to Calgary for $587 Purchased some food at the airport for $12.97 The minimum payment due is greater of $10 or 2% of the outstanding balance. She intends to pay the balance in full on the 29th of July. How much must she pay? Select one: O A. $793.73 OB. $124.79 C. $667.32 O D. $792.11

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Asset Management And Institutional Investors

Authors: Ignazio Basile, Pierpaolo Ferrari

1st Edition

331932795X,3319327968

More Books

Students also viewed these Finance questions