What is the effective interest rate of a simple discount note for $3,500 at a bank discount rate of 11%, for 24 months?

Answers

Answer 1

The effective interest rate of the simple discount note is 6%.

The effective interest rate (EIR) of a simple discount note can be calculated using the following formula:

EIR = (Discount ÷ Face Value) x (360 ÷ t)

Where Discount is the difference between the face value and the discounted value, t is the time in days from the issuance of the note until its maturity, and 360 is the number of days in a year used for interest rate calculations.

In this case, the face value is $3,500, the bank discount rate is 11%, and the time to maturity is 24 months or 720 days.

Discounted value = Face value x (1 - Bank discount rate x t ÷ 360)

Discounted value = $3,500 x (1 - 0.11 x 720 ÷ 360)

Discounted value = $3,080

Therefore, the discount is $420 ($3,500 - $3,080).

Using the formula for EIR, we get:

EIR = ($420 ÷ $3,500) x (360 ÷ 720)

EIR = 0.06 or 6%

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Related Questions

Write an equation to determine each unknown length. Then, solve the equation. Round your answer to the nearest tenth, if necessary.
X=___ Round to the nearest tenth (One number after the decimal)

Answers

Answer: 40

Step-by-step explanation:

a(2) + b(2) = c(2)

a(2) + 9(2) = 11(2)

121 - 81 = 40

Mrs. Brown has constructed a pool that has a capacity of 800cm3 and a depth of 8cm what is the area of the upper surface?

Answers

Answer:

Step-by-step explanation:

To find the area of the upper surface of the pool, we need to know the dimensions of the pool. If we assume the pool has a rectangular shape, we can use the formula:

Area = length x width

We can find the length and width by using the given volume and depth. Since the volume of the pool is 800 cubic cm and the depth is 8cm, we can find the length and width using the formula:

Volume = length x width x depth

800 = length x width x 8

length x width = 800/8

length x width = 100

Now, we do not have enough information to determine the exact dimensions of the pool. However, we do know that the area of the upper surface of the pool is equal to the length times the width. Therefore, the area of the upper surface is 100 square cm.

Reflections; rotations and translations are transformations that change the what of a figure

Answers

Answer:

eflections, rotations, and translations are all transformations that change the position of a figure in the plane. These transformations change the orientation, location, or both of a figure without altering its size or shape. In other words, they change the position or location of the figure in the plane while maintaining the same size and shape.

Which of the following are true of
all linear functions?
A. The rate of change is
non-zero.
B. The domain is all real
numbers.
C. The range is all real
numbers.
D. There is one x-intercept.
E. There is one y-intercept.

Answers

The domain is all real numbers, The range is all real numbers and There is one y-intercept is true from the given option in context of all linear functions. option B. The domain is all real numbers, C. The range is all real numbers , and E. There is one y-intercept is right choice.

All linear functions have a domain that includes all real numbers, a range that includes all real numbers, and exactly

one y-intercept.

The rate of change of a linear function is non-zero only if the function is not constant (i.e. its slope is not zero).

However, there are linear functions that have a slope of zero, such as the function f(x) = 2, which is a horizontal line.

This means that statement A is not true of all linear functions.

Furthermore, there are linear functions that have no x-intercept (if the line is parallel to the x-axis) or that have more

than one x-intercept (if the line intersects the x-axis more than once).

Therefore, statement D is also not true of all linear functions.

The correct answers to this question are B. The domain is all real numbers, C. The range is all real numbers , and E. There is one y-intercept.

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The ratio of the birth weight to the adult weight of a male black bear is 3:1000. The average birth weight is 12 ounces. Find the average adult weight. Your answer is probably in ounces. If there are 16 ounces in 1 pound, how many pounds does the adult bear weigh?

Answers

In response to the stated question, we may state that As a result, an expressions adult black bear weighs 250 pounds.

what is expression ?

An expression in mathematics is a collection of numbers, variables, and mathematical (such as addition, reduction, multiplication, division, exponentiation, etc.) that express a quantity or value. Expressions might be as basic as "3 + 4" or as complicated as "(3x2 - 2) / (x + 1)". They may also contain functions like "sin(x)" or "log(y)". Expressions can also be evaluated by substituting values for the variables and performing the mathematical operations in the order specified. If x = 2, for example, the formula "3x + 5" equals 3(2) + 5 = 11. Expressions are commonly used in mathematics to describe real-world situations, construct equations, and simplify complicated mathematical topics.

Let B represent the birth weight of a male black bear and A represent the mature weight. The ratio of B to A is supplied to us as 3:1000. As a result, we may write:

B/A = 3/1000

The average birth weight (B) is also reported as 12 ounces. We may use these data to get the average adult weight (A):

[tex]B/A = 3/1000\\12/A = 3/1000\\A = 12/(3/1000)\\A = 4000[/tex]

A male black bear's typical mature weight is 4000 ounces.

To convert ounces to pounds, divide by 16 (since one pound contains 16 ounces):

[tex]4000/16 = 250[/tex]

As a result, an adult black bear weighs 250 pounds.

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how do i solve this problem?

Answers

Option A correctly describes the area of the graph of the function.

How is an area of the graph calculated?

The area of a graph is the area under the function curve enclosed within the X-axis of the graph. Thus, it is the area of the figure formed by enclosing the function graph with the X-axis.

It is the integration of the function polynomial of the possible values of x that the function curve lies in.

Here the function equation is : [tex]f(x) = ( 25 - x^{2} )[/tex]

From the figure, we can see that the value of x varies from -5 to 5.

Initial x-value of integration = minimum value of x

                                          = -5

Final x-value of integration = maximum value of x

                                          = 5

Thus, the area of the graph can be correctly calculated as. :

               [tex]Area = \int\limits^{maxX}_ {minX} \, f(x)dx[/tex]

               [tex]Area = \int\limits^5_ {-5} \, (25-x^{2} )dx[/tex]

Hence, Option A correctly calculates the area of the graph given.

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Tauri is 3 years older than Treasure. In 5 years the sum of their ages will be 63. How old is Tauri now?

Answers

Answer:

Tauri is currently 28 years old

Step-by-step explanation:

100 POINTS PLEASEE HELPPP BRAINLIEST

Answers

Answer:

C

.........................

Answer: the answer is A

Step-by-step explanation: The process of nuclear fusion is the union of two light atomic nuclei into one heavier one while releasing enormous quantities of energy.

Let S = {r, e, l, a, x} and T = {i, t, s, o, k, a, y}. Find n(S), n(T), n( ∪ ), and n( ∩ ).

Answers

The value of n (S) is 5, n (T) is 7, n (∪) is 11 and n (∩) is 1. The solution has been obtained by using the given sets.

What is a set?

Sets are represented as a collection of well-defined objects or elements and it does not change from person to person. A set is symbolised by a capital letter. The number of items in the finite set is known as the cardinal number of a set.

We are given two sets as S = {r, e, l, a, x} and T = {i, t, s, o, k, a, y}.

Now,

n (S) = 5

This is because there are 5 elements in this set.

n (T) = 7

This is because there are 7 elements in this set.

S ∪ T = {r, e, l, a, x, i, t, s, o, k, y}

n (∪) = 11

This is because there are 11 distinct elements in the sets.

S ∩ T = {a}

n (∩) = 1

This is because there is only 1 element common in the sets.

Hence, the required solution has been obtained.

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which of the following is not an identity?

Answers

The trigonometry expression which is not an identity is 1+cos² x/sin²x + 1. The Option A is correct.

What is a trigonometric identities?

Trigonometric Identities refers to equalities that involve trigonometry functions and hold true for all variables in the equation. There are numerous trigonometric identities involving the side length and angle of a triangle.

The primary trigonometry functions are sine, cosine, and tangent, while the other three functions are cotangent, secant, and cosecant. All six trig functions are used to derive the trigonometric identities.

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Marcus gives 25% of his income to his parents to help cover expenses. He earns $340 per week. How much money does he gives his parents?

Answers

Answer:

$85

Step-by-step explanation:

340*0.25

Marcus gives his parents 68 dollars

Who did i get this answer?

How many solutions does this equation have? –8 + 3s + 17s = 20s + 8

Answers

Answer: There are no solutions

Step-by-step explanation:

Step 1: simplify both sides of the equation

-8 + 3s + 17s = 20s + 8

(3s+17s) + (-8) = 20s + 8 (combine like terms)

20s + -8 = 20s + 8

20s - 8 = 20s + 8

Step 2: Subtract 20s from both sides

20s - 8 - 20s = 20s + 8 - 20s

-8 = 8

Step 3: Add 8 to both sides

-8 + 8 = 8 + 8

0 = 16

Thus, there are no solutions

Allison cut 4 pieces of ribbon to make bookmarks. Each piece of ribbon was 50 cm long. How many meters of ribbon did Allison use to make the bookmarks?

Answers

Answer:

2 meters

Step-by-step explanation:

If she cut 4 pieces and each was 50 cm, we know that she used 200 cm of ribbon.

Cm to M conversion is that 100 cm = 1 meter, so 200 cm would be 2 meters

Matt increased his typing speed from 32 to 38 words per minute. What is the percent of increase

Answers

Answer:

Matt's typing speed increased by 18.75%.

Step-by-step explanation:

To find the percent increase, we can use the following formula:

percent increase = (new value - old value) / old value x 100%

Using this formula, we can calculate the percent increase in Matt's typing speed as follows:

percent increase = (38 - 32) / 32 x 100%

percent increase = 6 / 32 x 100%

percent increase = 0.1875 x 100%

percent increase = 18.75%

Write the ratio of corresponding sides for the similar triangles and reduce the ratio to lowest terms. 2 similar right triangles. Triangle 1 has side length 12, hypotenuse 15, and blank side. Triangle 2 has side length 4, hypotenuse 5, and blank side. a. StartFraction 4 Over 15 EndFraction = StartFraction 5 Over 12 EndFraction = StartFraction 4 Over 15 EndFraction b. StartFraction 4 Over 5 EndFraction = StartFraction 12 Over 15 EndFraction = StartFraction 4 Over 5 EndFraction c. StartFraction 4 Over 12 EndFraction = StartFraction 5 Over 15 EndFraction = StartFraction 1 Over 3 EndFraction d. StartFraction 5 Over 4 EndFraction = StartFraction 15 Over 12 EndFraction = StartFraction 5 Over 4 EndFraction

Answers

Answer:

Step-by-step explanation: To find the ratio of corresponding sides for the two similar triangles, we need to match up the corresponding sides of the triangles and write the ratios of their lengths.

For Triangle 1, we have:

Side length = 12

Hypotenuse = 15

We can use the Pythagorean theorem to find the length of the blank side:

(Blank side)^2 = (Hypotenuse)^2 - (Side length)^2

(Blank side)^2 = 15^2 - 12^2

(Blank side)^2 = 225 - 144

(Blank side)^2 = 81

Blank side = 9

So, for Triangle 1, we have the following ratios:

Side length : Hypotenuse = 12 : 15

Side length : Blank side = 12 : 9

Hypotenuse : Blank side = 15 : 9

For Triangle 2, we have:

Side length = 4

Hypotenuse = 5

We can use the Pythagorean theorem to find the length of the blank side:

(Blank side)^2 = (Hypotenuse)^2 - (Side length)^2

(Blank side)^2 = 5^2 - 4^2

(Blank side)^2 = 25 - 16

(Blank side)^2 = 9

Blank side = 3

So, for Triangle 2, we have the following ratios:

Side length : Hypotenuse = 4 : 5

Side length : Blank side = 4 : 3

Hypotenuse : Blank side = 5 : 3

Therefore, the ratio of corresponding sides for the two similar triangles is:

Side length : Side length = 12 : 4 = 3 : 1

Hypotenuse : Hypotenuse = 15 : 5 = 3 : 1

Blank side : Blank side = 9 : 3 = 3 : 1

Reducing each ratio to lowest terms, we get:

Side length : Side length = 3 : 1

Hypotenuse : Hypotenuse = 3 : 1

Blank side : Blank side = 3 : 1

So the correct answer is (b) StartFraction 4 Over 5 EndFraction = StartFraction 12 Over 15 EndFraction = StartFraction 4 Over 5 EndFraction.

Find x
Given: x=AC, m

Answers

Answer:

x = 15.733

Step-by-step explanation:

The proof shows that ABCD is a rhombus. Which of the following is the
missing reason?
A. Reflective property
B. Symmetric property
C. Transitive property
D. Addition property

Answers

The correct answer is B. Symmetric property.

The symmetric property states that if a = b, then b = a. In the context of geometry, this property can be used to show that if one side of a figure is congruent to another side, then the second side is also congruent to the first. In the case of the given proof, it is possible that the symmetry of the figure is used to show that opposite sides of the rhombus are congruent.

The reflective property (A) is not typically used to prove that a figure is a rhombus, as it relates to the reflection of a figure across a line. The transitive property (C) and the addition property (D) are also unlikely to be used in this context, as they relate to the properties of equality and addition, respectively, rather than geometric properties of figures.

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Write 2/8 in lowest terms.

Answers

Answer: 1/4

Step-by-step explanation:

2 divided by 2 is 1 and 8 divided by 2 is 4 so 1/4

Answer: 1/4

Step-by-step explanation: We can simplify by divideing both the numerator and the denominator by 2. That will leave us with the answer of 1/4.

(PLEASE HELP MY GRADES WRE DUE TMRO)Scientists are preparing two satellites to be launched. The graph below represents the
number of miles, y, that the satellite, Space Explorer A, flies in a hours.
Miles

Answers

The rate of change is equal to 6,800 miles per hour.

What is the rate of change?

In Mathematics and Geometry, the rate of change can be determined by using the following mathematical equation (formula);

Rate of change, m = (Change in y-axis, Δy)/(Change in x-axis, Δx)

Rate of change, m = (y₂ - y₁)/(x₂ - x₁)

Next, we would determine the rate of change of the value of y with respect to the value of x for Space Explorer A;

Rate of change, m = (68,000 - 34,000)/(10 - 5)

Rate of change, m = 34,000/5

Rate of change, m = 6,800 miles per hour.

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Complete Question:

Scientists are preparing two satellites to be launched. The graph below represents the number of miles, y, that the satellite, Space Explorer A, flies in a hours. Find the rate of change.

Find the simplified form of the expression. Give your answer in scientific notation.
(8 × 10^4)(9 × 10^–8)

Answers

Answer:

7.2×10^-3

Step-by-step explanation:

8 × 10^4×9 × 10^–8

=8×9×10^(4-8)

=72×10^-4

=7.2×10^-3

A business analyst wants to determine if the prices of goods at a supermarket have changed significantly since the new owner of the company took over. She looks at the prices of ten items before the new owner took over compared to after the new owner started.
(Chart in photo below)
Based on the data in the table and using a significance level of 0.05, what is the correct P-value and conclusion?

A. With a t statistic of 1.4789 and a P-value of 0.173292, reject the no hypothesis that prices have not changed

B. With a T statistic of 1.4789 and a P value of 0.173292, fail to reject the null hypothesis. The prices have not changed.

C. With a T statistic of 0.7394 and a P value of 0.478505, reject the no hypothesis that prices have not changed.

D. With a T statistic of 0.7394 anda P value of 0.478505, fail to reject the no hypothesis that prices have not changed.

Please answer quickly, 100 points thank you !

Answers

Answer: Option A

Step-by-step explanation:

The t-statistic and P-value can be calculated using statistical software or a t-test calculator. Using a two-tailed t-test with a significance level of 0.05 and 8 degrees of freedom (n1 + n2 - 2), we obtain:

t = -1.4789

P-value = 0.173292

Therefore, the correct answer is A. With a t statistic of -1.4789 and a P-value of 0.173292, we fail to reject the null hypothesis that the prices have not changed significantly since the new owner took over. We cannot conclude that the prices have changed significantly.

With a T statistic of 0.7394 and a P value of 0.478505, fail to reject the no hypothesis that prices have not changed. The correct option is D.

What is null hypothesis?

A null hypothesis is a type of statistical hypothesis that asserts that there is no statistical significance in a given set of observations.

Using sample data, hypothesis testing is used to assess the credibility of a hypothesis.

To determine if the prices of goods at a supermarket have significantly changed since the new owner took over, we can perform a two-sample t-test with the null hypothesis being that the mean difference in prices before and after the new owner took over is zero.

Using a significance level of 0.05, the critical t-value for a two-tailed test with 9 degrees of freedom is approximately 2.306.

To calculate the t-statistic, we first need to calculate the mean and standard deviation of the differences in prices:

Mean difference = (0.30 - 0.07) / 10 = 0.023

Standard deviation = 2.967

t-statistic = (0.023 - 0) / (2.967 / sqrt(10)) = 0.7394

The calculated t-value of 0.7394 is less than the critical t-value of 2.306, and the corresponding p-value is 0.4785. This means we fail to reject the null hypothesis that the mean difference in prices is zero.

Therefore, based on the given data and using a significance level of 0.05, the correct P-value and conclusion are:

Thus, the correct option is D.

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Simplify 1/cos x + 1/cos x -1

Answers

Answer:

-2cotxcscx

Step-by-step explanation:

Step 1: Find a common denominator

Step 2: Simplify

I need help on question 30 and 32.

Answers

Refer to the attached images.

9. The price of a Delta Air Lines ticket from New York to Orlando increased to $450. This is an 8% increase. What was the old fare to nearest cent?

Answers

Answer:

$416.66

Step-by-step explanation:

We take

450 divided by 108, then time 100 = $416.66

So, the old fare is $416.66

Taylor wants to take out a mortgage of $380,000 with interest that compounds monthly. Use the formula A = P(1 +)*t to find which of these loans will have the lowest total cost. A) 20 years at 10% interest B) 25 years at 6.5% interest C) 30 years at 5% interest D) 35 years at 4% interest​

Answers

Using the compound interest formula it is obtained that the loans which will have the lowest total cost is option C) - 30 years at 5% interest.

What is Compound Interest?

The interest that is calculated using both the principal and the interest that has accrued during the previous period is called compound interest. It differs from simple interest in that the principal is not taken into account when determining the interest for the subsequent period with simple interest. Compound interest is commonly abbreviated C.I. in mathematics.

We can use the formula of compound interest [tex]A = P\big(1 + \frac{r}{n} \big)^{(nt)}[/tex] to calculate the total cost (A) of each loan, where P is the principal (the initial amount borrowed), r is the annual interest rate (as a decimal), n is the number of times the interest is compounded per year, and t is the total number of years.

For all loans, the principal P is $380,000.

For Loan A, the annual interest rate is 10%, and the interest is compounded 12 times per year (monthly), so r = 0.1/12 and n = 12.

The total time is 20 years, so t = 20.

Plugging in the values, we get -

[tex]A = $380,000(1 +0.1/12)^{(12 \times20)} = $1,245,956.70[/tex]

For Loan B, the annual interest rate is 6.5%, and the interest is compounded 12 times per year (monthly), so r = 0.065/12 and n = 12.

The total time is 25 years, so t = 25.

Plugging in the values, we get -

[tex]A = $380,000(1 +0.065/12)^{(12 \times25)} = $844,275.92[/tex]

For Loan C, the annual interest rate is 5%, and the interest is compounded 12 times per year (monthly), so r = 0.05/12 and n = 12.

The total time is 30 years, so t = 30.

Plugging in the values, we get -

[tex]A = $380,000(1 +0.05/12)^{(12 \times30)} = $766,726.73[/tex]

For Loan D, the annual interest rate is 4%, and the interest is compounded 12 times per year (monthly), so r = 0.04/12 and n = 12.

The total time is 35 years, so t = 35.

Plugging in the values, we get -

[tex]A = $380,000(1 +0.04/12)^{(12 \times35)} = $810,780.25[/tex]

Therefore, Loan C with 30 years at 5% interest has the lowest total cost, with a total cost of $766,726.73.

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The diagram shows two circles with center O.
The radius of the outer circle is 3 units and the radius of the inner circle is 2 units.
What is the area of the shaded ring (annulus)?

Look at the picture below please answer quick because of my appointment?

Answers

Answer:

5

Step-by-step explanation:

S1=R1²=*3²=9 (the outer circle)

S2=R2²=*2²=4 (the inner circle)

S=S1-S2=9-4=5 (the shaded ring)

Answer: 5 BECASUE of how the raids is in the inner circle

How will the product change if one number is decreased by a factor of 2 and the other is decreased by a factor of 8 ?

Answers

The product is decreased by a factor of 16.

What is a factor?

In mathematics, a factor is a number or quantity that, when multiplied with another number or quantity, produces a given result. For example, in the expression 3 x 4 = 12, 3 and 4 are factors of 12. Factors can also refer to algebraic expressions, where they are the expressions that are multiplied together to obtain a larger expression.

Let's say we have two numbers, A and B, and we want to find the product of A and B.

The product of A and B is AB.

If we decrease A by a factor of 2, the new value of A becomes A/2. If we decrease B by a factor of 8, the new value of B becomes B/8.

So the new product of A/2 and B/8 is:

(A/2)(B/8) = AB/16

Therefore, the product is decreased by a factor of 16.

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Solid metal support poles in the form of right cylinders are made out of metal with a
density of 6.6 g/cm³. This metal can be purchased for $0.38 per kilogram. Calculate
the cost of a utility pole with a diameter of 17.6 cm and a height of 790 cm. Round
your answer to the nearest cent.

Answers

The cost of the utility pole is $127.36.

What is the answer to this?

Answers

Answer:

B

Step-by-step explanation:

x + 3y = 2 → (1)

4x - 3y = 23 → (2)

adding (1) and (2) term by term will eliminate y

(x + 4x) + (3y - 3y) = 2 +  23

5x + 0 = 25

5x = 25 ( divide both sides by 5 )

x = 5

Find the missing length indicated. * A) 12 C) 8 A OB D 16 24 36 B) 18 D) 15​

Answers

Answer:

Is D

Step-by-step explanation:

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