Question 1

Compute the accumulated value of $10 000.00 at 9% after six months.

Accepted Answer

P = 10000.00; r = 0.

Question 2

Interest of $429.48 was charged on a loan of $9500 over a period of 7 months. What simple rate of interest was charged on the loan?

Accepted Answer

A) 4.52% 
B) 2.64% 
C) 7.75% 
D) 3.48% 
E) 4.38% 
A) 4.52% 
B) 2.64% 
C) 7.75% 
D) 3.48% 
E) 4.38%

Question 3

In how many months will $3500 grow to $4845.94 at 7.25% p.a.?

Accepted Answer

Interest: I = 4845.94 - 3500 =

Question 4

What principal will have a maturity value of $100 000 at 5% p.a. in 18 months?

Accepted Answer

S = 100000.00; r = 0

Question 5

How many months will it take $639 to grow to $795 at 8.45% p.a.?

Accepted Answer

I = 795.00 - 639.00

Question 6

Didzo took a loan of $14 600 on January 10, 2013 at a rate of 9.25%. He repaid the loan on June 4, 2013. What is the interest due on repayment date?

Accepted Answer

A) $529.10 
B) $532.80 
C) $536.50 
D) $540.20 
E) $543.90 
A) $529.10 
B) $532.80 
C) $536.50 
D) $540.20 
E) $543.90

Question 7

How much interest will you pay on a loan of $15 500 if you are paying the loan off in 9 months? Your loan rate is 7.125%.

Accepted Answer

A) $828.28 
B) $838.28 
C) $848.28 
D) $818.28 
E) $858.28 
A) $828.28 
B) $838.28 
C) $848.28 
D) $818.28 
E) $858.28

Question 8

Find the present value of a debt of $760.00 ninety-five days before it is due if money is worth 6.25%.

Accepted Answer

S = 760.00

Question 9

What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?

Accepted Answer

A) $1198 
B) $119.80 
C) $99.83 
D) $9.98 
E) $0 
A) $1198 
B) $119.80 
C) $99.83 
D) $9.98 
E) $0

Question 10

What rate of interest did you earn for a period of 2417 days if you invested $175 and you earned $222 in interest?

Accepted Answer

A) 16.19% 
B) 17.19% 
C) 29.19% 
D) 21.19% 
E) 19.16% 
A) 16.19% 
B) 17.19% 
C) 29.19% 
D) 21.19% 
E) 19.16%

Question 11

Debt payments of $2130.00 and $1794.00 are due five months from now and nine months from now respectively. What single payment is required to pay off the debt today if interest is 6.36%?

Accepted Answer

Let the size of the single pay

Question 12

John buys a car for $20 000 on Kia finance with a simple interest of 5.99%. After one month he pays off the Kia finance using his secured line of credit which charges him 4% simple interest. He pays off the line of credit in 11 months. How much did he pay in total?

Accepted Answer

A) $20 737 
B) $20 837 
C) $20 733 
D) $20 800 
E) $21 198 
A) $20 737 
B) $20 837 
C) $20 733 
D) $20 800 
E) $21 198

Question 13

Determine the number of days it will take $500.00 to earn $20.00 at   %.

Accepted Answer

P = 500; I = 20; r =

Question 14

The exact number of days between January 25, 2012 and March 25, 2012 is?

Accepted Answer

A) 59 days 
B) 60 days 
C) 61 days 
D) 62 days 
E) 63 days 
A) 59 days 
B) 60 days 
C) 61 days 
D) 62 days 
E) 63 days

Question 15

Debts of $1480.00 due four months ago and $1385.00 due in one month are to be settled by two equal payments due now and nine months from now respectively. Find the size of the equal payments at 12% p.a. with the agreed focal date now.

Accepted Answer

Let the size of the equal payments be $x

Question 16

Tamiko invested $1500.00 at a bank for eight months at an interest rate of 4   %. Calculate the maturity value of the investment.

Accepted Answer

P = 1500; t = @#IMG-DLM& ; r =

Question 17

What principal will earn $67.52 at 6.75% in 158 days?

Accepted Answer

I = 67.52;

Question 18

Leo wishes to invest $8000.00 that he saved from his summer job. His bank offers 3.75% for a one-year term investment or 3.5% for a six-month term. Help Leo to investigate his options.
a)How much will Leo receive after one year if he invests at the one-year rate?
b)How much will Leo receive after one-year if he invests for six-months at a time at 3.5% each time?
c)What would the one-year rate have to be to yield the same amount of interest as the investment described in part b)?

Accepted Answer

P = 80000
a)r = 0.0375; t = 1 year
S = 8

Question 19

An appliance store advertises a stove for $747.50 with nothing down, no payments and no interest for six months. Determine the cash value the store would be willing to accept if on a six-month investment, it can earn an interest of 4%.

Accepted Answer

S = 747.50; r = 0.04

Question 20

Compute the amount of interest for $500.00 at 8.75% from June 30 to December 31.

Accepted Answer

Number of days betwe

Compute the accumulated value of $10 000.00 at 9% after six months.

Interest of $429.48 was charged on a loan of $9500 over a period of 7 months. What simple rate of interest was charged on the loan?

In how many months will $3500 grow to $4845.94 at 7.25% p.a.?

What principal will have a maturity value of $100 000 at 5% p.a. in 18 months?

How many months will it take $639 to grow to $795 at 8.45% p.a.?

Didzo took a loan of $14 600 on January 10, 2013 at a rate of 9.25%. He repaid the loan on June 4, 2013. What is the interest due on repayment date?

How much interest will you pay on a loan of $15 500 if you are paying the loan off in 9 months? Your loan rate is 7.125%.

Find the present value of a debt of $760.00 ninety-five days before it is due if money is worth 6.25%.

What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?

What rate of interest did you earn for a period of 2417 days if you invested $175 and you earned $222 in interest?

Debt payments of $2130.00 and $1794.00 are due five months from now and nine months from now respectively. What single payment is required to pay off the debt today if interest is 6.36%?

John buys a car for $20 000 on Kia finance with a simple interest of 5.99%. After one month he pays off the Kia finance using his secured line of credit which charges him 4% simple interest. He pays off the line of credit in 11 months. How much did he pay in total?

Determine the number of days it will take $500.00 to earn $20.00 at %.

The exact number of days between January 25, 2012 and March 25, 2012 is?

Debts of $1480.00 due four months ago and $1385.00 due in one month are to be settled by two equal payments due now and nine months from now respectively. Find the size of the equal payments at 12% p.a. with the agreed focal date now.

Tamiko invested $1500.00 at a bank for eight months at an interest rate of 4 %. Calculate the maturity value of the investment.

What principal will earn $67.52 at 6.75% in 158 days?

An appliance store advertises a stove for $747.50 with nothing down, no payments and no interest for six months. Determine the cash value the store would be willing to accept if on a six-month investment, it can earn an interest of 4%.

Compute the amount of interest for $500.00 at 8.75% from June 30 to December 31.

Review of Arithmetic

Review of Basic Algebra

Ratio, Proportion, and Percent

Linear Systems

Cost-Volume-Profit Analysis and Break-Even

Trade Discounts, Cash Discounts, Markup, and Markdown

Simple Interest Applications

Compound Interest - Future Value and Present Value

Compound Interest - Further Topics

Ordinary Simple Annuities

Ordinary General Annuities

Annuities Due, Deferred Annuities, and Perpetuities

Amortization of Loans, Residential Mortgages, and Sinking Funds

Bond Valuation

Investment Decision Applications

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Exam 7: Simple Interest

Compute the accumulated value of $10 000.00 at 9% after six months.

Interest of $429.48 was charged on a loan of $9500 over a period of 7 months. What simple rate of interest was charged on the loan?

In how many months will $3500 grow to $4845.94 at 7.25% p.a.?

What principal will have a maturity value of $100 000 at 5% p.a. in 18 months?

How many months will it take $639 to grow to $795 at 8.45% p.a.?

Didzo took a loan of $14 600 on January 10, 2013 at a rate of 9.25%. He repaid the loan on June 4, 2013. What is the interest due on repayment date?

How much interest will you pay on a loan of $15 500 if you are paying the loan off in 9 months? Your loan rate is 7.125%.

Find the present value of a debt of $760.00 ninety-five days before it is due if money is worth 6.25%.

What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?

What rate of interest did you earn for a period of 2417 days if you invested $175 and you earned $222 in interest?

Debt payments of $2130.00 and $1794.00 are due five months from now and nine months from now respectively. What single payment is required to pay off the debt today if interest is 6.36%?

John buys a car for $20 000 on Kia finance with a simple interest of 5.99%. After one month he pays off the Kia finance using his secured line of credit which charges him 4% simple interest. He pays off the line of credit in 11 months. How much did he pay in total?

Determine the number of days it will take $500.00 to earn $20.00 at %.

The exact number of days between January 25, 2012 and March 25, 2012 is?

Debts of $1480.00 due four months ago and $1385.00 due in one month are to be settled by two equal payments due now and nine months from now respectively. Find the size of the equal payments at 12% p.a. with the agreed focal date now.

Tamiko invested $1500.00 at a bank for eight months at an interest rate of 4 %. Calculate the maturity value of the investment.

What principal will earn $67.52 at 6.75% in 158 days?

An appliance store advertises a stove for $747.50 with nothing down, no payments and no interest for six months. Determine the cash value the store would be willing to accept if on a six-month investment, it can earn an interest of 4%.

Compute the amount of interest for $500.00 at 8.75% from June 30 to December 31.

Review of Arithmetic

Review of Basic Algebra

Ratio, Proportion, and Percent

Linear Systems

Cost-Volume-Profit Analysis and Break-Even

Trade Discounts, Cash Discounts, Markup, and Markdown

Simple Interest Applications

Compound Interest - Future Value and Present Value

Compound Interest - Further Topics

Ordinary Simple Annuities

Ordinary General Annuities

Annuities Due, Deferred Annuities, and Perpetuities

Amortization of Loans, Residential Mortgages, and Sinking Funds

Bond Valuation

Investment Decision Applications

Filters