im going to make a chart like it is in the book. i need help please..
10. Face of note have to find the Interest and the Amount due at Maturity
$500 3 years of time 12% rate
11.$150 3months 18%
12.$920 2 1/4 year 5 1/2%
10. Face of note have to find the Interest and the Amount due at Maturity
$500 3 years of time 12% rate
11.$150 3months 18%
12.$920 2 1/4 year 5 1/2%
-
if the interest is payd monthly then
10.-
there are 36 months in 3 years then
Amount due at Maturity=500(1+0.12/12)^36
= $715.38
interest =$215.38
11
Amount due at Maturity=150(1+.18/12)^3
= $156.85
interest =$6.85
12
Amount due at Maturity=920(1+0.055/12)^27
=$1,040.90
interest =$120.90
10.-
there are 36 months in 3 years then
Amount due at Maturity=500(1+0.12/12)^36
= $715.38
interest =$215.38
11
Amount due at Maturity=150(1+.18/12)^3
= $156.85
interest =$6.85
12
Amount due at Maturity=920(1+0.055/12)^27
=$1,040.90
interest =$120.90