Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help with both questions Note: You may refer to Table 7.2 The Serial Numbers for Each Day of the Year (Hummelbrunner et al., 2021,

need help with both questions
image text in transcribed
image text in transcribed
Note: You may refer to Table 7.2 "The Serial Numbers for Each Day of the Year" (Hummelbrunner et al., 2021, p. 269270 ) for this question. (a) What is the interest rate paid if the interest on loan of $4500 is $148.93 from November 14 , 2023, April 14, 2024? (3 marks) (b) A loan of $4210 is to be repaid by three equal payments due in 90 days, 185 days, and 320 days. Determine the amount of equal payments at 8.25% p.a. with a focal date of today. (4 marks) Note: for leap yests, "February 29 bectnes day number 60 and the serial nunter for tach subsequent day la the table lnterases by 1. Copyright (1) 2021 Pearson Canada Inc

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

Production And Operations Analytics

Authors: Steven Nahmias, Tava Lennon Olsen

8th Edition

1478639261, 9781478639268

More Books

Students also viewed these Finance questions

Question

05 Techniques to promote creativity and in novation.

Answered: 1 week ago

Question

Describe and compare POSIX and Windows threading libraries.

Answered: 1 week ago