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3 years ago

Ordinary simple interest brings increased revenue to the lender. The general practice

Business

1 answer:

densk [106]3 years ago

6 0

Answer:

Exact = $34.5

Ordinary = $35

Explanation:

Given that :

Principal, P = $1500

Interest rate = 14% = 0.14

Number of days = 60

For exact :

Exact simple interest uses 365 days :

Simple interest = principal * rate * time

Simple interest = $1500 * 0.14 * 60 / 365 = 34.520547 = $34.5

For ordinary simple interest :

Simple interest = principal * rate * time

Simple interest = $1500 * 0.14 * 60 / 360 = $35

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2 years ago

A worker received $5 for a daily wage in 1930, which has the equivalent value of $63.24 today. if the cpi was 17 in 1930 what is

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3 years ago

Sage Hill Company is negotiating to lease a piece of equipment to MTBA, Inc. MTBA requests that the lease be for 9 years. The eq

Annette [7]

Answer:

$14,621.99

Explanation:

Calculation to determine what would be the amount of the annual rental payments Sage Hill demands of MTBA,

Let X be the annual lease payments

Annuity factor of 8% for 9 years = 6.74664

Discounting factor of 8% at beginning of 9 years = 0.54027

Annual Rental Payments=$100,000 = (X * 6.74664) + ($2,500 * 0.54027)

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Therefore, what would be the amount of the annual rental payments Sage Hill demands of MTBA , is $14,621.99

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3 years ago