Exam 7: Simple Interest

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

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 check that you write today to pay off all of your debt?

What principal will earn $77.14 interest at 6.65% p.a. for 182 days?

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

Determine the deposit that must be made to earn $85 in 7 months at 10.5%.

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

Determine the date represented by 100 days after March 1, 2012.

Tamiko invested $1 500.00 at a bank for eight months at an interest rate of 4 %. Calculate the maturity value of the investment.

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.

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

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

What sum of money will accumulate to $1 426.80 in eight months at 7.78%?

What sum of money will accumulate to $539.04 in 97 days at 11.4%?

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 $6 000 on the maturity date and interest is 2.75%?

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

Debt payments of $500.00, $1000.00, $1500.00 are due on March 1, May 1, and December 1 of the same year. If interest is 8%, calculate the single payment on August 1 of the same year that would replace the three payments.

A loan payment of $1700 was due 60 days ago and another payment of $1200 is due 45 days from now. What single payment 90 days from now will pay off the two obligations if interest is to be 14% and the agreed focal date is 90 days from now?

At what rate of interest must a principal of $1 535.00 be invested to earn interest of $75.46 in 235 days?

What principal will have a maturity value of $40 000.00 at 5.25% p.a. in 4 years?

A loan of $1000 taken out on January 1 requires equal payments on February 1, March 1, and April 1. If the focal date is April 1, what is the size of the equal payments at 6.0%?