Explore BrainMass

# Compound interest and amounts

This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

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)
----------------------------------------------------------------------------------
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)

----------------------------------------------------------------------------------------
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)