7-Solve the problem. Central Building Company borrowed $15,804 on a 280-day simple interest note to expand their business. The note carried an interest rate of 7.0%. Find the maturity value of the note.
8-Solve the problem. The manager of a retirement account purchased 104 Solar Energy (SNG) bonds that mature in 2020 for the retirement account. According to a bond table, the last price is 96.375 and the coupon rate is 7.750. Assuming a sales commission of $1 per bond, find the total purchase price of the bonds, and the annual interest payment.
a. $103,036.25, $5400.20
b. $100,126.00, $7979.40
c. $100,334.00, $8060.00
d. $100,230.00, $7750.00
9-Solve the problem. The James family wants to save….