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    Compound interest and amounts

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    1) Find the discount and proceeds on a $3,260 face-value note for nine months if the discount rate is 9.5%. (use the bankers rule)

    The discount is $ ? (round to the nearest cent as needed)
    The proceeds are $ ? (round to the nearest cent as needed)
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    2) A computer costs 2,941, Cathy pays a 20% per year finance charge on the cash price. If she contracts to pay the loan in 18 months, how much will she pay each month?

    She will pay $ ? each month. (round to the nearest cent as needed)

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    3) Find the future value and compound interest on 6,000 at 8% compounded semiannually for six years.

    compound amount $ ? (round to the nearest cent as needed)
    compound interest $ ? (round to the nearest cent as needed)

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    https://brainmass.com/business/finance/compound-interest-amounts-422166

    Solution Summary

    Compound interest and amounts are assessed.

    $2.19