Ch10HW - 365-178=187 Exact time = 187 days...

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Kelli Owens Chapter 10 Homework 1. 14000*.02*15/12 = $350 Interest MV = 14000+350= $14,350 5. 585*.09*[(Dec 15 – June 5)/360]= 585*.09*[(349-156)/360]= 585*.09*[ 193 /360]= $28.23 Exact time = 193 days Interest = $28.23 585+28.23= 613.23 MV = $613.23 9. 1200*.12*[(Jan 10-July7)/365] Jan 10 th = 10 th day July 7 th = 188 th day So, (July 7) 188-(Jan 10) 10 = 178
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Unformatted text preview: 365-178=187 Exact time = 187 days 1200*.12*187/365=73.78 Interest = $73.78 MV = 1200+73.78 = $1,273.78 11. x(.07*1.5)=200 .105x = 200 .105 .105 x=1904.76 Principal = $1904.76 19. 1650-1200=450 interest desired 450=1200*.08*x/12 450=96*x/12 12*450=(96*x/12)12 5400 = 1152x 1152 1152 x=4.7 Time = 4.7 years...
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