Question 18

A building contractor gives a $13,500 promissory note to a plumber who has loaned him

$13,500.The note is due in 9 months with interest at 9%. Six months after the note is signed, the plumber sells it to a bank. If the bank gets a 11% return on its investment, how much will the plumber receive? Will it be enough to pay a bill for $14,380?

How much will the plumber receive? $ ____(Round to the nearest cent as needed.)

Question17

A stock that sold for $19 per share at the beginning of the year was selling for $97 at the end of the year. If the stock paid a dividend of $2.98per share, what is the simple interest rate on the investment in this stock? Consider the interest to be the increase in value plus the dividend.

The simple interest rate is ______%.(Do not round until the final answer. Then round to the nearest tenth as needed.)

Question16

A six-month $4800 treasury bill sold for$4531. What was the simple annual discount rate?

The discount rate was_____%.(Type an integer or decimal rounded to one decimal place as needed.)

Question15

Dave borrowed $5700 from his uncle with simple interest of 6% and eventually repaid $6042

(principal and interest). What was the time period of the loan?

The time period of the loan was ______year(s).(Type an integer or a decimal.)