redruM
Breathe and Stop
- Joined
- May 11, 2004
- Messages
- 3,954
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- Male
- HSC
- 2003
q10 from ex 1.6 from the acst101 text. i've tried a couple of times now and dont know where i am screwing it up.
a wholesale appliance dealer accepted a $15000 promissorynote from a retial store. it was dated 18 may, bearing a 15% pa simpl inetrest and the duration was 6 months. partial payments of $4000 and $7000 were made on 7 july and 2 sept respectively. determine the amount due at the maturity date.
ans: $4683.22
(time for the actuaries to shine
)
a wholesale appliance dealer accepted a $15000 promissorynote from a retial store. it was dated 18 may, bearing a 15% pa simpl inetrest and the duration was 6 months. partial payments of $4000 and $7000 were made on 7 july and 2 sept respectively. determine the amount due at the maturity date.
ans: $4683.22
(time for the actuaries to shine
)