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On April 5, 2015. Janeen Camoct took out an 8.% loan for $20,000. The loan is due March 9, 2016. Janeen's terms are ordinary interest. Sabrina Bowers took out the same loan as Janeen. Sabrina's terms, however, are exact interest. (Use Days in a year table.) a. What is Sabrina's difference in interest? (Do not round intermediate calculations. Round your answer to the nearest cent.) Difference b. What will she pay on March 9, 2016? (Ignore leap year.) (Round your answer to the nearest cent.) Amount $ Lane French had a bad credit rating and went to a local cash center. He took out a $100 loan payable in two weeks at $115. What is the percent of interest paid on this loan? (Do not round intermediate calculations. Round your answer to the nearest whole percent.) Percentage of Interest 0% Andres Michael bought a new boat. He took out a loan for $24,500 at 4.5% interest for 2 years. He made a $4,500 partial payment at 2 months and another partial payment of $3,000 at 6 months. How much is due at maturity? (Do not round intermediate calculations Round your answers to the nearest c Maturity value Shawn Bixby borrowed $17,000 on a 120-day, 12% note. After 65 days, Shawn paid $2,000 on the note. On day 89, Shawn paid an additional $4,000. Use ordinary interest. a. Determine the total interest use the U.S. Rule. (Do not round intermediate calculations. Round your answer to the nearest cent.) Total interest b. Determine the ending balance due use the U.S. Rule. (Do not round intermediate calculations. Round your answer to the nearest cent.) Ending balance due Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. She sent the payment November 8. The IRS sent her a penalty charge of 8% simple interest on the unpaid taxes of $4.100. Calculate the penalty. Remember that the government uses exact interest.) (Use not round intermediate calculations. Round your answer to the nearest cent) (Do Penalty S Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.) Principa $1.200 July 7 Jan 10 Complete the following, using exact interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.) 585 June 5 Dec. 15 Leslie Hart borrowed $15,000 to pay for her child's education at Riverside Community College, Leslie must repay the loan at the end of 9 months in one payment with 5 % interest a. How much interest must Leslie pay? (Do not round intermediate calculation. Round your answer to the nearest cent.) Interest S b. What is the maturity value? (Do not round intermediate calculation. Round your answer to the nearest cent.) Maturity value Lucky Champ owes $191.25 interest on a 6% loan he took out on his March 17 birthday to upgrade an oven in his Irish restaurant, Lucky's Pub and Grub. The loan is due on August 17. What is the principal? (Use Days in a year table.) (Use 360 days a year. Do not round intermediate calculations.) Principal $ On April 5, 2015, Janeen Camoct took out an 8 % loan for $20,000. The loan is due March 9, 2016. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2016? (Ignore leap year.) (Use Days in a year table.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Maturity value $ TABLE 7.1 Exact days-In-a-year calendar (excluding leap year) 30 31 Day of month Jan. Feb. Mar. Apr. May June July Aug. Sept Oct 28 Nov. 152 92 122 153 183 214 154 274 275306 276 305 335 336 337 338 339 340 244 245 184 215 307 247 27 0 86 217 %126 157 187 218 219 89 220 278 279 280 281 282 283 125 309 127 128 158 159 38 342 343 344 313 253 254 255 256 286 317 257 258 8 319 259 260 29032 224 285 346 163 03133164 194 225 165 05 135166 196 227 106 136 167197 228 168 169 347 287 318 75 289 320 350 137 108 199 230 70 200 2 292 293 264 294325 295 266 296 27 297 298 299 353 354 355 356 357 358 359 262 232 141 172 202 233 234 113 143 174 204 235 263 324 21 173 203 265 326 175 20 176 206 267 268 269 270 328 145 237 238 84 46 177 20 147 361 362 363 178 208 331 87 240 80 210 24 181 272 273 149 302 303 243 365 Otten referred to as a Jullan calendar
