Hi! This is Fin 110. Can you help me step by step, please?

QUESTION 1:

Mahesh borrowed $5,130 from Becky. He signed a contract agreeing to pay it back 9 months later with 4.75% simple interest.

After 5 months, Becky sold the contract to Stan at a price that would earn Stan 5.00% simple interest per annum.

Calculate the simple interest rate that Becky earned during the period that she held the contract.

Express your answer as a percentage rate rounded to 2 decimal places but don't include the % sign.

QUESTION 2:

The Acme Pie Company received an initial advance of $10,400 on its operating line on June 3rd. The simple interest rate on the account was initially 5.91% and increased to 6.23% on June 20th. How much interest was owing on the account at the end of the month (June 30th)? Round your answer to two decimal places, but don't include the $ sign.

QUESTION 3:

You plan to invest $10,000 for 180 days. Your bank offers a rate of 2.60% on 90-day GICs and 2.90% on 180-day GICs.

How much more interest will you earn if you purchase a single 180-day GIC instead of two consecutive 90-day GICs? Remember that the interest earned from the first 90-day GIC will be invested in the second 90-day GIC along with the principal.

Express your answer to 2 decimal places but do not include the $ sign.

QUESTION 4:

An investor wishes to purchase a $100,000 T-bill 105 days before its maturity date at a price that will yield 3.80% simple interest.

What price would the investor be willing to pay for the T-bill?

QUESTION 5:

What would an investor pay for a $50,000, 182-day Province of BC treasury bill on its issue date if the current market rate of return is 2.35%?

Express your answer to 2 decimal places, but don't include the $ symbol.

QUESTION 6:

Calculate the price of an $80,000, 273-dayTreasury bill on its issue date if the current market rate of return is 2.35%.Express your answer to 2 decimal places, but don't include the $ symbol.