ACTIVITY 1

1. I = 4,300
r = 8.5% or 0.085
t = 120 days
4300
P= 120
(0.085)( )
365
P = 153,872.549
2. P = 35,000
r = 11% or 0.11
I = 1,455
1455
T=
(35000)(0.11)
T = 0.3779 or 0.38
T = 0.38 * 12 (months) = 4.56
T = 4.56 * 30 (days) = 16.8
T = 0.38 or 4 months and 16 days
3. P = 23,400
3
r = 5 % or 0.056
5
d = Oct 12. 2020 → Jan 2. 2021
Actual Approximate
Oct 12. 2020 - 19 18
Nov - 30 30
Dec - 31 30
Jan - 2 2
Total - 82 80
d d
Io (act) = Pr Io (approx) = Pr
360 36 5
82 80
Io (act) = 23,400(0.056) Io (approx) = 23,400(0.056)
360 36 5
Io (act) = 298.48 Io (approx) = 287.21
F = P+I F = P+I
F = 298.48 + 23,400 F = 287.21 + 23,400
F = 23,698.48 F = 23,687.21
ACTIVITY 1

d d
Io (act) = Pr Io (approx) = Pr
36 5 360
82 80
Io (act) = 23,400(0.056) Io (approx) = 23,400(0.056)
36 5 36 0
Io (act) = 294.39 Io (approx) = 291.2
F = P+I F = P+I
F = 294.39 + 23,400 F = 291.2 + 23,400
F = 23,694.39 F = 23,691.2