Question 1

The interest earned on a $6000 investment was $240. What was the term in months if the interest rate was 6%?

Accepted Answer

A) 4 months 
B) 7 months 
C) 8 months 
D) 9 months 
E) 12 months 
A) 4 months 
B) 7 months 
C) 8 months 
D) 9 months 
E) 12 months

Question 2

Compute the amount of interest for $679.43 at 6.25% from May 11 to January 20.

Accepted Answer

Number of days = 21

Question 3

In how many months will $9100.00 grow to $9818.75 at 6.41% p.a.?

Accepted Answer

I = 9818.75 - 9100.0

Question 4

A loan of $3325.00 is to be repaid by three equal payments due in 102 days, 157 days and 189 days respectively. Determine the size of the equal payments at 12.15% p.a. with a focal date of today.

Accepted Answer

Let the size of the equal payments be $x

Question 5

Bart deposited $4300 into a savings account with a rate of 1.4% p.a. After 200 days, what is the maturity value of the deposit?

Accepted Answer

P = 4300; r = 1.4% =

Question 6

Three debts, the first for $1720 due four months ago, the second for $1315 due in 5 months, and the third for $1640 due in 7 months, are to be paid by a single payment today. How much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today?

Accepted Answer

Let the size of the single pay

Question 7

Determine the amount of money that would have to be invested at 5   % to accumulate to $10 000.00, 91 days after the investment date.

Accepted Answer

S = 10 000

Question 8

What principal will earn $219.89 interest at 11.25% p.a. from November 16, 2013 to February 7, 2014?

Accepted Answer

I = 219.89; r = 0.1125
Time pe

Question 9

What principal will earn $59.99 interest at 7.75% p.a. from February 4, 2014 to July 17, 2014?

Accepted Answer

Number of days = 24

Question 10

How much money do you have to invest in order to accumulate a total of $10 000 in 365 days if you are able to earn 5.00% on your money?

Accepted Answer

A) $9533.81 
B) $9523.81 
C) $10000.81 
D) $8523.81 
E) $5923.81 
A) $9533.81 
B) $9523.81 
C) $10000.81 
D) $8523.81 
E) $5923.81

Question 11

At what rate of interest will $1087.00 earn $63.84 in 264 days?

Accepted Answer

P = 1087;

Question 12

Sally put $9500 in term deposit on May 22. It matured on September 4 at $9588.82. What interest rate did she earn on the term deposit?

Accepted Answer

P = $9500
S = $9588.82
t = 10

The interest earned on a $6000 investment was $240. What was the term in months if the interest rate was 6%?

Compute the amount of interest for $679.43 at 6.25% from May 11 to January 20.

In how many months will $9100.00 grow to $9818.75 at 6.41% p.a.?

A loan of $3325.00 is to be repaid by three equal payments due in 102 days, 157 days and 189 days respectively. Determine the size of the equal payments at 12.15% p.a. with a focal date of today.

Bart deposited $4300 into a savings account with a rate of 1.4% p.a. After 200 days, what is the maturity value of the deposit?

Three debts, the first for $1720 due four months ago, the second for $1315 due in 5 months, and the third for $1640 due in 7 months, are to be paid by a single payment today. How much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today?

Determine the amount of money that would have to be invested at 5 % to accumulate to $10 000.00, 91 days after the investment date.

What principal will earn $219.89 interest at 11.25% p.a. from November 16, 2013 to February 7, 2014?

What principal will earn $59.99 interest at 7.75% p.a. from February 4, 2014 to July 17, 2014?

How much money do you have to invest in order to accumulate a total of $10 000 in 365 days if you are able to earn 5.00% on your money?

At what rate of interest will $1087.00 earn $63.84 in 264 days?

Sally put $9500 in term deposit on May 22. It matured on September 4 at $9588.82. What interest rate did she earn on the term deposit?

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

Exam 7: Simple Interest

The interest earned on a $6000 investment was $240. What was the term in months if the interest rate was 6%?

Compute the amount of interest for $679.43 at 6.25% from May 11 to January 20.

In how many months will $9100.00 grow to $9818.75 at 6.41% p.a.?

A loan of $3325.00 is to be repaid by three equal payments due in 102 days, 157 days and 189 days respectively. Determine the size of the equal payments at 12.15% p.a. with a focal date of today.

Bart deposited $4300 into a savings account with a rate of 1.4% p.a. After 200 days, what is the maturity value of the deposit?

Three debts, the first for $1720 due four months ago, the second for $1315 due in 5 months, and the third for $1640 due in 7 months, are to be paid by a single payment today. How much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today?

Determine the amount of money that would have to be invested at 5 % to accumulate to $10 000.00, 91 days after the investment date.

What principal will earn $219.89 interest at 11.25% p.a. from November 16, 2013 to February 7, 2014?

What principal will earn $59.99 interest at 7.75% p.a. from February 4, 2014 to July 17, 2014?

How much money do you have to invest in order to accumulate a total of $10 000 in 365 days if you are able to earn 5.00% on your money?

At what rate of interest will $1087.00 earn $63.84 in 264 days?

Sally put $9500 in term deposit on May 22. It matured on September 4 at $9588.82. What interest rate did she earn on the term deposit?

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