Exam 7: Simple Interest

CloudTrust Limited has a monthly payroll of $6 million. They choose to make a short-term investment in an account with a 0.9% rate. At the end of the month, what is the maturity value of the deposit?

Dion is supposed to pay Kristy $3500 on April 20, but delays the payment until July 1. What amount should Dion expect to pay on July 1, if Kristy can earn 8.25% on a low-risk investment?

Find the maturity value of $1080.00 invested at 3.65% from July 24, 2014 to December 21, 2014.

Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.

What is the amount to which $7250.00 will grow at 7.75% p.a. in 3 months?

Determine the deposit that must be made to earn $49.27 in 325 days at 6%.

Find the amount of interest on $635.00 at 6.5% p.a. from October 2, 2015 to August 4, 2016.

Daniel's credit card statement last month showed $560 in cash advances and $5.25 in interest charges. The interest rate on the statement was 18.8%. For how many days was Daniel charged interest?

On New Years' Day in 2014, Legend's Hair Emporium borrowed a sum of money, and promised to pay $11 781 back on October 28, 2014. This loan included interest at 1.4%. How much money was initially borrowed on New Years' Day by Legends Hair Emporium?

Ed plans to receive $2000 interest in 200 days on his investment of $40 000. At what interest rate should he plan to invest?

Compute the accumulated value of $6500.00 at 8.5% after eleven months.

What principal will have a maturity value of $12 000.00 at 6.25% p.a. in 3 months?

A loan of $4100 is to be repaid in three equal installments due 110, 197, and 311 days respectively after the date of the loan. If the focal date is the date of the loan and interest is 6.89% p.a., find the size of the installments.

What rate of interest is paid if the interest on a loan of $15 000.00 is $2000.00 from January 31, 2014 to May 31, 2014?

What rate of interest did you receive over a period of 90 days if your principal was $5000 and it has a maturity value of $6000?

On April 24, 2012, Rebecca purchased a government-guaranteed short-term investment maturing on July 5, 2012. How much did Rebecca pay for the investment if she will receive $6000 on the maturity date and interest is 2.75%?

Compute the amount of interest on $875.00 at 11.5% p.a. from May 29, 2013 to August 13, 2013.

What rate of interest did you receive over a period of 67 days if your principal was $7444 and it has a maturity value of $7601?

You owe $3572.75 in 147 days and have decided to pay off your loan early. Your interest rate is 6.52%. What is the size of the cheque that you write today to pay off all of your debt?

On Christmas day, Sebastian deposited the $265 he got in a savings account that had a simple interest rate of 1.7% p.a. By next Christmas, how much interest was earned and paid into his account?