Question;Unit 4: Instructor;Graded Assignment;Simple Interest (please;use exact interest);In;this and future Instructor Graded Assignments you will be asked to use the;answers you found in the Unit 1 Assignment.;Note;For these questions you need to cite a reliable source for information, which;means you cannot use sites like Wikipedia, Ask.com?, and Yahoo? answers. If you;do use those sites the instructor may award 0 points for your response.;The;Assignment problems must have the work shown at all times. The steps for;solving the problems must be explained. Failure to do so could result in your;submission being given a 0. If you have any;questions about how much work to show, please contact your instructor.;Assignments;must be submitted as a Microsoft Word? document and uploaded to the Dropbox for;Unit 4. Please type all answers directly in this Assignment below the question;it applies to.;All;Assignments are due by Tuesday at 11:59 PM ET of the assigned Unit.;Note;All interest rates are to be assumed to be yearly;interest rates. Please use exactinterest.;In these questions;you will need to use the date that unit 4 starts for your class. List;the date that Unit 4 started for your class;?;Unit 4 start date;Question 1;(10;points);1.;You decide to take out a simple interest loan for $5000, at 7% yearly interest;on the date that unit 4 starts for you. If you repay the loan on December 31st;(at the end of the current year)...;a) How much do you;pay total when you pay off the loan?;b) How much interest;do you pay?;Question 2;(15;points);2.;You decide to take out a $20000 simple interest loan at 4%, on the date unit 4;started for you.;a) In 45 days you;decide to pay off $8000 of the loan. What is your new principal? Explain how;you got the answer.;b) 30 days after the;first payment, you pay another $6000. What is your new principal? Explain how;you got the answer you did.;c) 45 days after the;2nd payment, your loan comes due. How much do you need to pay then? Explain;your reasoning.;Question 3;(5;points);3.;You need $400 badly, and decide to write a check at a check cashing place to;get that money. Assuming you much write the check for $500 to get the $400 in;cash, and the check will be cashed in 2 weeks, what simple interest rate did;you just pay? Assume 52 weeks in a year for this problem;Essay;(15;points);4.;Same as cash deals are becoming very popular these days. Research a couple same;as cash deals and write an essay explaining the advantages and disadvantages of;each. When would one of these deals be a good deal for a person? When would;using a same as cash deal be a poor idea?;Requirements;?;Write your essay in this document ? do not;save it in a separate file.;?;You must clearly state your position with;well-structured paragraphs using proper grammar, spelling, and sentence;structure.;?;This is not an ?opinion? question ? you must;offer evidence to support your position, using properly-cited sources.;?;Your answer must be between ?-1 page in;length.;?;You must cite and reference at least one;source (book, website, periodical) using APA format.;?;Do not use unreliable sources such as;Wikipedia, and Yahoo! Answers.;You;may submit your Assignments to the Math Center for review. Tutors will not;grade or correct the Assignment, but they will provide guidance for;improvement. Tutors will not, however, help you find web sites for the;Assignment.
Paper#60307 | Written in 18-Jul-2015Price : $26