What would be the effective rate of a 10%, 13-week Treasury Bill
What would be the effective rate of a 10%, 13-week Treasury Bill for $10,000? Round to the hundredth percent. 2) Use exact interest to solve for A) Time, B) Simple Interest, and C) amount paid back. Round to the nearest cent. Given: Principal = $15,000 Rate = 12% Date Borrowed: May 12 Date Repaid: September 16 Brian Smith sells sets of movie posters ($12) and baseball cards ($8) at a local flea market. Last Sunday, Brian’s total sales were $840. People bought four times as many movie posters as baseball cards. How many of each did Brian sell? 4) Giving the following information, and using the U.S. Rule and ordinary interest, find the adjusted balance after a partial payment of $800 is made on the 40th day. Round to the nearest cent. Given: Principal = $4,000 Rate = 12% Time = 90 days 5) Given the following, compute the A) Bank Discount, using ordinary interest, and B) Proceeds. Note: This problem represents the second half of a discount process only--assume that the Principal is the Maturity Value. Given: Face Value (Principal) = $9,000 Discount Rate = 14% Time = 110 days 6) A wooden duck with a regular selling price of $125.99 is marked down to $79.99. What is the percent markdown? Round to the nearest hundredth percent 7) The following is an example of my favorite Business Math concept: 1/10 = .10 = 10% Answer True or False 8)North Conway Ski Shop ordered 300 sets of skis. When the Ski Shop received the order 60 skis were missing. What percent of the order did the Ski Shop receive? Round to the nearest percent. 9) Al’s Supply sold a chain saw to Mark’s Lumber. The List Price was $1,250. Al’s Supply offered a chain discount of 6/3/1. What was the Net Price of the chain saw? Round to the nearest cent. 10) Use ordinary interest to solve for A) Time, B) Simple Interest, and C) Maturity Value.
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