Quiz 2 Review Qu... x X 13 O + 124% 13. What amount paid on September 14 is equivalent to $1200 paid on the following December 1 if money can earn 6%? $1184.81 14. If $45.02 interest accrued on a $1500 certificate of deposit from January 15, 2017 to August 8, 2017, what rate of simple interest did the certificate of deposit earn? Round to the nearest 0.01% 5.34% 15. A high-rate savings account pays interest of 2.07%. Interest is calculated on the daily closing balance and paid at the close of business on the last day of the month. A depositor had a $9,245 opening balance on September 1, withdrew $950 for a car payment on September 4, and deposited his paycheque for $2,200 on September 18. What interest will be credited to the account at the month's end? $15.90 16. Calculate the maturity value of a 180-day, 15,000 GIC that has a 3.15% rate ofreturn. $15,233.01 17. A flat screen TV is purchased with $500 down and three payments of $1,300 each due in three, six and nine months from the date of purchase. What is the purchase price of the TV if the interest rate on the loan is 16%? $4, 114.42 18. a. What will be the maturity value of $25,000 placed in a 120-day term deposit paying an interest rate of 3.50%? (Do not round intermediate calculations and round your final answer to 2 decimal places.) $25,287.67 b. If, on the maturity date, the combined principal and interest are "rolled over" into a 110-day term deposit paying 3.30%, what amount will the depositor receive when the second term deposit matures? (Do not round intermediate calculations and round your final answer to 2 decimal places.) $25,539.16