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questions 7-10 Thank you 7.8. Promissory Note: I, Sam Park, promise to pay Jane Smith the sum of $9000.00 on Nov.15, 2020 Sam Park Jan.25,
questions 7-10 Thank you
7.8. Promissory Note: I, Sam Park, promise to pay Jane Smith the sum of $9000.00 on Nov.15, 2020 Sam Park Jan.25, 1995. Assuming the simple interest rate is 27% per year, find the present value of the note. July1 9.10. Balance Payment Debit $4500 July 16 $1400 July24 $800 Aug. 1 ?? (a) Find the average daily balance for the month of July. (b) Find the finance charge if the simple interest rate is 17% per year. (c) Find the amount of pay off on Aug 1. 11. Find the final amount of $9000 at the end of 7 years at 14% per year compounded continuously. 12. Find the present value of $9000 due at the end of 173 days at 14% per year simple interest rate 13. The price of Elantra is $15500. I am making $4500 down payment. The remainder is to be financed over the period of four years by making monthlly payment at 11% compounded monthly. Find the monthly payment 14. (a) Convert 2 to %. (b) Write 2 % in ordinary decimal form Step by Step Solution
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