ch09test01a - $10,433.33 Date of Note Maturity Date Days...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
BUSINESS MATH USING EXCEL Name ______________________________ Date ______________________________ Chapter 09 - Test 01 A. Calculate simple, ordinary, and exact interest. Simple Ordinary Exact Principal $8,300 $8,300 $8,300 Loan Date 5/1/2003 5/1/2003 5/1/2003 Rate 11.5% 11.5% 11.5% Time 12 90 60 months days days Interest $954.50 $238.63 $156.90 Maturity Value $9,254.50 $8,538.63 $8,456.90 Due Date 5/1/2004 7/30/2003 6/30/2003 Face Value $10,000 Rate 13% Time in Days 120 Maturity Value
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $10,433.33 Date of Note 1/1/2003 Maturity Date 5/1/2003 Days Before Discount 90 Discount Date 4/1/2003 Discount Rate 15% Days Remaining 30 Bank Discount $130.42 Bank Proceeds $10,302.92 B. Calculate maturity value and date, discount date, days remaining, and bank discount and proceeds. A B C D 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31...
View Full Document

Ask a homework question - tutors are online