Ricardo invested a lump sum of 10,000 in a mutual fund with an offer price of 12.04. How many shares did he purchase? (Round to the nearest thousandth)
A) 1,204.000
B) 830.565
C) 955.874
D) 637.121
Question 2
Shaffer's Book Store borrowed 30,000 on March 10 for 90 days. The interest rate was 9 using the ordinary interest method. On day 30 of the loan, Shaffer made a partial payment of 12,000, and on day 70 of the loan Shaffer made a second partial payment of 3,000. What is the new maturity value of the loan?
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