Fred’s credit union offers a simple interest home equity loan that uses a daily rate. For such loans, interest is computed using the following formula: (Loan balance) (daily rate)(days between payments) If Fred borrows $15,000 at a daily periodic rate of 0.000144 and he pays the loan off in one single payment of$18,153.60, how long was the term of the loan?

Answer these questions about the interest calculation s.

Which account earned the most inter est, and how much more did it earn? Now move the cursor to cell C4, which holds the Account B interes t rate. Enter a new interest rate of 4.1 % without the percent symbol.

(a) Calculate the (time-averaged) energy density of an electromagnetic plane wave in a conducting medium. Show that the magnetic contribution always dominates. (b) Show that the intensity is $(k/2\mu\omega)E_0^2e^{-2\kappa z}$.

Complete the following compound interest chart.

Fill in each blank so that the resulting statement is true. If you are selecting the best investment from two or more investments, the best choice is the account with the greatest _______ , which is the _____ interest rate that produces the same amount of money at the end of one year as when the account is subjected to compound interest at a stated rate.

Pauline needs to get a $\$ 5,000$ loan to buy a car. Her bank offers a loan at $6 \%$ simple interest, which she will pay back in three years. If she takes this loan, how much interest will she pay?

The formula for finding simple interest is $I=p r t$, where $I$ is the amount of the interest, $p$ is the principal, $r$ is the interest rate, and $t$ is time.

Determine whether the integral converges or diverges. Find the value of the integral if it converges. $\int_{-\infty}^{\infty} \frac{1}{\sqrt[3]{x}} d x$

Leroy borrowed $8250 to be repaid after 3 years at an annual simple interest rate of 7.25%. How much interest will be due after 3 years? How much will Leroy have to repay?

Explain how you can find the missing number in $3\frac{4}{5}\div \bigcirc = 2\frac{5}{7}$. Then find the missing number.

For simple interest accounts, the interest earned or due depends on the principal p, interest rate r, and the time t in years according to the formula I=p r. By using this relation solve the listed below exercise: Larry came up a little short one month at billpaying time and had to take out a title loan on his car at Check Casher's, Inc. He borrowed 260 dollars, and 3 weeks later he paid off the note for 297.50 dollars. What was the annual interest rate on this title loan? (Hint: How much interest was charged?)

John and Susan just opened savings accounts at two different banks. They each deposited $\$ 1,000$. John's bank pays simple interest at an annual rate of $10 \%$, whereas Susan's bank pays compound interest at an annual rate of $9.5 \%$. No interest will be taken out of the accounts for a period of three years. At the end of three years, whose balance will be greater and by how much (to the nearest dollar)?

User cost is equal to the present value of future profits in the model presented in Figure 19.7. Will the optimal quantity to mine in the present year increase or decrease if the market rate of interest rises? Does your result make any intuitive sense? (Hint: If interest rates are up, would you want to have more or less money right now to invest at the market rate of interest?)

When interest is compounded quarterly (4 times a year) at an annual rate of 6%, the rate of interest for each quarter is $\frac{0.06}{4}$, and the number of times that interest is added in t years is 4t. After how many years will an investment of $100 compounded quarterly at 6% annually be worth at least$450? (Use the formula $A_n=A_0\left(1+\frac{r}{n}\right)^{n t}$.)

Use the formula and tax tables provided in this lesson to perform all computations. Find the effective federal income tax rate of a married couple with no children, who have a combined income of $34,000.