Unit $1$

How many bi$-$weekly periods should Mr$.$ Jim Phelps have invested the amount of $$90,000$ to achieve savings of $$102,600$ if the bank pays him an annual interest rate of $24\%?$

Valery Legasov purchased a refrigerator priced at $$47,500,$ paying $11\%$ of its price in cash. He committed to paying the remaining amount in a single payment in $13$ months at a simple annual interest rate of $26\%.$ What is the value of his final payment?

A debtor failed to make a payment on his promissory note on the due date, with a face value of $$394,184\mathrm{.}93.$ If the late interest rate is $6\mathrm{.}5\%$ per month and the customer paid $50$ days later, what was the amount he had to pay?

a$.436,888\mathrm{.}30$ b$.520,711\mathrm{.}64$ c$.449,424\mathrm{.}69$ d$.395,266\mathrm{.}44$

Rebeca applied for a loan with a lender for $$200,000$ on February $15$ and committed to repay it on November $15$ with a simple interest of $25\%$ per year. To formalize the transaction, the lender requested her to sign the promissory note. Calculate the "Face Value" for which the promissory note should be issued considering a commercial year.

a$.291,076\mathrm{.}39$ b$.273,562\mathrm{.}50$ c$.219,527\mathrm{.}78$ d$.237,916\mathrm{.}67$

Unit $2$

The company Autopartes de Nuevo Le$$n sold vehicle parts for $$350,000$ and financed the invoice amount for $6$ months at an annual rate of $20\%.1$ month before the due date, they discounted it at a factoring company at a discount rate of $18\%.$ What was the effective amount received by the autoparts company?

The livestock company Yellowstone discounted a promissory note with a face value of $$10,000$ at a discount rate of $12\mathrm{.}5\%$ and received $$625.$ How many days before maturity was the discount made, considering a commercial year?

What annual discount rate was negotiated for a promissory note on May $20$ that matures on October $10$ if the annual yield was $48\mathrm{.}8462\%?$ Use an exact year.

a$.43\%$ b$.41\%$ c$.44\%$ d$.42\%$

What annual yield did a financial institution obtain by acquiring a promissory note for $$388,134\mathrm{.}37,$ and the debtor paid the sum $92$ days later?

a$.54\mathrm{.}89\%$ b$.54\mathrm{.}22\%$ c$.60\mathrm{.}25\%$ d$.61\mathrm{.}79\%$

The company Autopartes de Nuevo Le$$n sold vehicle parts for $$350,000$ and financed the invoice amount for $6$ months at an annual rate of $18\%.1$ month after the sale, they discounted it at a factoring company at a discount rate of $17\%.$ What was the amount of the discount charged to the autoparts company?