BUSN 135 Highline Community College Business Math and Excel Quiz

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ubnatwbnaan509

Business Finance

BUSN 135

Highline Community College

BUSN

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If you borrow $72,500.00 at an Annual Simple Interest Rate of 8.75% on 9/14/2018 and pay the loan back on 1/12/2019,
what is the maturity value and what was the term of the loan (interest calculated using Exact Method)?

Principal
Annual Simple Interest Rate
Loan Issue Date
Maturity Date
Number Of Days in Term
Interest
Maturity Value

$72,500.00
8.75%
9/14/2018
1/12/2019
120
$2,085.62
$74,585.62

If you make monthly payments at the end of each month of $225.00 for the next 30 years and you can earn
11.00% compounded monthly, how much will you have when you retire?

Monthly Payment A
APR (compounded monthly)
Total period (years)
Future Value

$225
11%
30
$631,016.94

Th...


Anonymous
Just what I was looking for! Super helpful.

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