Exam 6: Simple Interest

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Mario borrowed $6,000 on March 1 at a variable rate of interest. The interest rate began at 7.5%, increased to 8% effective April 17, and then fell by 0.25% effective June 30. How much interest will be owed on the August 1 repayment date?

(Short Answer)

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Question 281

How much money would one have to invest today at 18.75% in order to have a total of $20,000 in 9 months?

(Multiple Choice)

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Question 282

What payment, 174 days from now, is equivalent to $5230 paid today? Assume that money is worth 5.25% per annum.

(Short Answer)

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Question 283

What amount on January 23 is equivalent to $1,000 on the preceding August 18 if money can earn 6.5%?

(Short Answer)

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Question 284

Fred puts $5,475 into a term deposit on May 15^th. The deposit earns a simple interest rate of 4%. If the term deposit will mature on August 14^th, how much interest will Fred earn?

(Multiple Choice)

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Question 285

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Mario borrowed $6,000 on March 1 at a variable rate of interest. The interest rate began at 7.5%, increased to 8% effective April 17, and then fell by 0.25% effective June 30. How much interest will be owed on the August 1 repayment date?

How much money would one have to invest today at 18.75% in order to have a total of $20,000 in 9 months?

What payment, 174 days from now, is equivalent to $5230 paid today? Assume that money is worth 5.25% per annum.

What amount on January 23 is equivalent to $1,000 on the preceding August 18 if money can earn 6.5%?

Fred puts $5,475 into a term deposit on May 15^th. The deposit earns a simple interest rate of 4%. If the term deposit will mature on August 14^th, how much interest will Fred earn?

Review and Applications of Basic Mathematics

Review and Applications of Algebra

Ratios and Proportions

Mathematics of Merchandising

Cost-Volume-Profit Analysis

Applications of Simple Interest

Compound Interest: Future Value and Present Value

Compound Interest: Further Topics and Applications

Annuities: Future Value and Present Value

Annuities: Periodic Payment, Number of Payments, and Interest Rate

Annuities: Special Situations

Loan Amortization: Mortgages

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Exam 6: Simple Interest

Mario borrowed $6,000 on March 1 at a variable rate of interest. The interest rate began at 7.5%, increased to 8% effective April 17, and then fell by 0.25% effective June 30. How much interest will be owed on the August 1 repayment date?

How much money would one have to invest today at 18.75% in order to have a total of $20,000 in 9 months?

What payment, 174 days from now, is equivalent to $5230 paid today? Assume that money is worth 5.25% per annum.

What amount on January 23 is equivalent to $1,000 on the preceding August 18 if money can earn 6.5%?

Fred puts $5,475 into a term deposit on May 15th. The deposit earns a simple interest rate of 4%. If the term deposit will mature on August 14th, how much interest will Fred earn?

Review and Applications of Basic Mathematics

Review and Applications of Algebra

Ratios and Proportions

Mathematics of Merchandising

Cost-Volume-Profit Analysis

Applications of Simple Interest

Compound Interest: Future Value and Present Value

Compound Interest: Further Topics and Applications

Annuities: Future Value and Present Value

Annuities: Periodic Payment, Number of Payments, and Interest Rate

Annuities: Special Situations

Loan Amortization: Mortgages

Filters

Fred puts $5,475 into a term deposit on May 15^th. The deposit earns a simple interest rate of 4%. If the term deposit will mature on August 14^th, how much interest will Fred earn?