The rebate and payoff of a loan before the due date is based on the:
The average daily balance is equal to the sum of daily balances ________ the number of days in the billing cycle.
Ray Furniture wants to buy a dining room set for $7,000 with a 20 percent trade discount. Ray needs the cash to pay the bill and is considering discounting a 90 day note dated May 12 with a maturity value of $6,500 at Hunt Bank at a discount rate of 13 percent on June 5. The bank discount if Ray discounts the note is _______________.
A rebate amount is equaled to the rebate fraction __________.
Given: $140.10 per month Cash Price $5,600 Down Payment $0 Cash or Trade months with bank approved credit. Amount financed $5,600 Finance charge $2,806 Total Payments $8,406 The APR is __________.
An annuity is:
The APR represents the:
Jay discounts a 100-day note for $25,000 at 13 percent. The effective rate of interest to the nearest hundredth percent is ______ percent.
Maggie Grace borrowed $14,000 to travel to
At the beginning of each year, Bill Ross invests $1,400 semi-annually at 8 percent for 9 years. The cash value of the annuity due at the end of the ninth year is __________.