Multiple Choice
At the end of September Andy had $9,000 in his daily interest savings account. On the 12th of October he withdrew $4,000. He made no other withdrawals or deposits in October. The simple interest rate throughout October was 4.2%. How much interest did Andy earn on this savings account in October?
A) $9.21
B) $41.31
C) $22.90
D) $19.82
E) $26.17
Correct Answer:
Verified
Correct Answer:
Verified
Q2: What is the price of a $50,000,
Q3: Calculate and compare the market values of
Q4: A 90-day non-interest-bearing promissory note issued on
Q5: On a $10,000 principal investment, a bank
Q6: Calculate missing value for the promissory note:<br><img
Q7: On February 22, Jonathan had $20,000 of
Q8: Sixty-day commercial paper with face value $100,000
Q9: What will be the maturity value of
Q10: A 182-day, $250,000 Treasury Bill originally issued
Q11: Sam borrowed $10,000 at prime + 2%