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QUESTION
Net Price Equivalent Rate List Price Net Price 31 . Calculate Simple Interest ( Ordinary ) and Maturity Value Interest = Principal x Rate X Time (...
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Net PriceEquivalent RateList PriceNet Price31 . Calculate Simple Interest ( Ordinary ) and Maturity ValueInterest = Principal x Rate X Time ( years )Maturity value = Principle + InterestProblem : A simple interest note has a face value of $12 000 a rate of 8 %and a term of 1 yea32 . Solve for PrinciplePrinciple = Interest / ( Rate X Time )Interest$60RateTerm90 days - ordinaryPrincipleInterest( Rate * Time in years )33 . Solve for TimeTime ( years ) = Interest ( Principle x Rate )Principle : $2 , 000Interest$480Rate80%