Starting with $2000 on March 3 you deposit $500 23 days from March 3 withdraw $800 69 days from March 3 and deposit $600 121 days from
March 3. If your final balance is $2458 150 days from March 3 what is the simple interest rate for your account? Use the BankerAf?cA????1A????1s rule.
You borrow $5000 at a simple 15% interest rate from your friend for 18 months in order to purchase new furniture and sign on a promissory
note on your borrowing. 5 months later your friend sells the promissory note to a bank that charges a 20% discount rate (Bank discount). How much would your
friend receive from the sale of the promissory note?
You are supposed to make three payments $550 in 4 months $780 in 11 months and $300 in 20 months. If you want to discharge your debt in 15
months with a single payment and the interest rate is 9% compounded monthly what would the single payment be?