Exam 7: Simple Interest

A loan of $1825 taken out on March 10 requires equal payments on April 30, June 19, and August 3, and a final payment of $700 on September 30. If the focal date is September 30, what is the size of the equal payments at 8.6%?

What is the present value of $9700.00 due at 6.25% p.a. in 89 days?

Determine the number of days it will take $478.00 to earn $17.09 at %.

CentSmart Inc. deposited $83 215 into an account that had a simple interest rate of 2.3% on February 27th, 2015. On New Year's Eve, how much interest had been earned on that deposit?

What is the present value of $41 230.00 due in nine months if interest is 11.1%?

Find the maturity value of $832.00 invested at 8.8% from May 20, 2013, to November 23, 2013.

Determine the principle amount Bruce Wayne must invest if $1485 of interest was earned over 10 months with a rate of 0.6%.

Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now. What is that single payment, if money is worth 9.5% p.a. and the agreed focal date is 170 days from now?

What amount of money would have to be invested at 3.75% to grow to $10 000 after 91 days?

What sum of money will accumulate to $1426.80 in eight months at 7.78%?

In how many months will $4100.00 earn $192.29 interest at 7.5%?

Determine the exact time between January 20, 2012 and May 10, 2012 by counting days.

A bank pays an interest of 4.5% for a three month term deposit. Calculate the amount that Stacy must invest to earn an interest of $100.00.

What payment is required to pay off a loan of $1750.00 at 7.25% fourteen months later?

A debt of $7120 is to be settled by two equal payments due today, and three years from now respectively. Determine the size of the equal payments if money is worth 8.73% and the agreed focal day is today.

Debt payments of $1000.00 due today, $500.00 due in 90 days, and $500.00 due in 120 days are to be combined into a single payment to be made 120 days from today. What is that single payment if money is worth 9.00% p.a. and the agreed focal date is 120 days from today?

What principal will have a future value of $640, at 12.1% in 6 months?

Determine the exact time between January 21, 2014 and September 13, 2014 by counting days.

A $10 000 loan advanced on February 15 at a 10% interest rate requires equal payments after 61 days, 122 days and 183 days from the day of the loan. What should be the value of the equal payments?

Pablo invested $1965 in a 3-month term deposit at 2.2% p.a. What is the maturity value of this deposit?