9. Find the proceeds. Assume 365 days in a year. Round to the nearest cent.$459; discount rate 13%;length of loan 363 days

A) $399.66B) $399.33C) $399.82D) $59.34

12. Solve the problem.A $7150 note is signed, for 160 days, at a discount rate of 15.5%Find the proceeds.

A) $6041.75B) $6657.44C) $7150.00D) $6664.19

14. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$69,000; money earns 2.1% compounded monthly for 1 1/3 year

A) $2167.92B) $2098.32C) $117.21D) $4256.18

15. Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.$28,500 at 9% compounded annually for 5 yr

A) $9976.96B) $18,523.04C) $43,850.78D) $20,190.12

16. Find the periodic payment that will render the sum.S = $26,000, interest is 18% compounded monthly, payments made at the end of each month for 3 years

A) $549.96B) $7278.02C) $692.62D) $576.30

18. Find the actual interest rate paid, to the nearest tenth, on the simple discount note.$27,000; discount rate 7%; length of loan 3 mo

A) 9.1%B) 8.1%C) 7.1%D) 6.1%

19. Solve the problem.A company has ordered 4 new personal computers at a cost of 1800each.They will not be delivered for 5 months.What amount should the firm deposit in an account paying 7.32% to have enough money to pay for them?

A) $7028.50B) $3545.92C) $6945.78D) $6986.90

20. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$91,000; money earns 6% compounded quarterly for 4 years

A) $2327.26B) $5074.62C) $2236.52D) $1059.77

21. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$90,000; money earns 7% compounded semiannually for 16 1/2 years

A) $1569.74B) $1012.23C) $1418.37D) $1491.52

22. Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.$23,749 for 107 days; money earns 8.5%

A) $577.39B) $23,176.88C) $21,888.48D) $23,171.61

24. Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$8200; money earns 5% compounded annually 4payments

A) $1902.50B) $2601.11C) $337.31D) $1483.99

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