FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show answers with exact interest, ordinary interest, and 30/360 rule. Thanks. Example 1.4. Brad borrows $5000 from Bank on 1998/10/14 at 8% simple interest

image text in transcribed

Please show answers with exact interest, ordinary interest, and 30/360 rule. Thanks.

Example 1.4. Brad borrows $5000 from Bank on 1998/10/14 at 8% simple interest rate effective annually and agrees to repay the loan on 1999/05/07. What is the amount of Brad's required payment using the three different methods? 14 oct '98 - 07 May '99 * 30/360 rule Hitung full months 6 (Nou-April) X 30 = 180 Hitung days 17+7=24

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

The ImpactAssets Handbook For Investors

The ImpactAssets Handbook For Investors

Authors: Jed Emerson

1st Edition

ISBN: 1783087293, 978-1783087297

More Books

Students also viewed these Finance questions

Question

★★★★★
The U.S. Census Bureau collects information about the ages of people in the United States. Results are published in Current Population Reports. a. Identify the variable and population under...

Answered: 1 week ago

Question

★★★★★
Lenin was mentioned at the start of this chapter. His successor, Stalin, learned that 90% of the films made in the previous year lost money, but 10% were hits. Stalins answer was simple; next year...

Answered: 1 week ago

Question

★★★★★
How do we look at expenditures now? As investments in mission? How can we be better at this and communicate it to our staff? P987

Answered: 1 week ago

Question

★★★★★
If Oui watches sells 300 watches at $48 per watch and has variable costs of $18 per watch and fixed costs of $4,000, what is the projected profit?

Answered: 1 week ago

Question

★★★★★
An investment company is considering three Exchange Traded Funds for one of its clients: ETF Q has an expected return equals 12% and a standard deviation equals 20%. ETF Y has an expected return...

Answered: 1 week ago

Question

★★★★★
Check my work A. Purchased new equipment for $3,200 by issuing a check for $2,000 as a down payment with the balance due in 30 days B. Returned damaged supplies and received an $100 cash refund. C....

Answered: 1 week ago

Question

★★★★★
PRACTICE: During a daredevil event, an archer is seen shooting an arrow while riding a bike. The arrow is shot with a speed of 40 m/s and horizontal acceleration of 0.96 m/s at an angle of 25 with...

Answered: 1 week ago

Question

★★★★★
As the recently appointed auditor for Sheridan Corporation, you have been asked to examine selected accounts before the six-month financial statements of June 30, 2023, are prepared. The controller...

Answered: 1 week ago

Question

★★★★★
The December 31, 2024, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Account Title 85 Cash nts Accounts receivable Prepaid rent Inventory. Office equipment Debits $...

Answered: 1 week ago

Question

★★★★★
Please solve the below problem to demonstrate your understanding of relationships between 2 variables. A researcher conducts a study to investigate the relationship between cigarette smoking and...

Answered: 1 week ago

Question

★★★★★
Creative Computing sells a tablet computer called the Protab. The $780 sales price of a Protab Package includes the following: One Protab computer. A 6-month limited warranty. This warranty...

Answered: 1 week ago

Question

★★★★★
Identify the cause of a performance problem. page 363

Answered: 1 week ago

Question

★★★★★
Explain how job experiences can be used for skill development. page 394

Answered: 1 week ago

Question

★★★★★
Discuss what companies are doing for melting the glass ceiling. page 405

Answered: 1 week ago

Previous QuestionNext Question