1.) Stannards Capital Investment Corp invested $576,300 to buy a note that matures in 2 years for $725,000. Find (a) the simple interest rate and (b) the simple discount rate.
2.) A $10,000 T bill with 73 days till maturity is sold at a 5.48% simple discount rate. Find the equivalent simple interest rate.
3.) Denarea will receive a $1,043.59 paycheck in 7 days. A payday lender offers to give her cash today for this check for a fee of 1% of the check amount. Find the equivalent simple interest rate.
4.) Harry borrowed $5,255 from Ron for 200 days at a simple interest rate of 12.25%. Then, 80 days later, Ron sold the note to Hermione, using a simple discount rate of 9.28%. Find the amount Hermione paid.
5.) Harry borrowed $5,255 from Ron for 200 days at a simple interest rate of 12.25%. Then, 80 days later, Ron sold the note to Hermione, using a simple discount rate of 9.28%. What simple interest rate did Ron earn?