Question 1

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

Accepted Answer

P = 1087;

Question 2

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

Accepted Answer

Number of days betwe

Question 3

A debt of $1410.00 due 6 months ago and a second debt of $1815.00 due in 4 months with interest at 6.16% p.a. are to be settled by two equal payments due now and 9 months from now respectively. Find the size of the equal payments at 7.37% p.a. with the agreed focal date now.

Accepted Answer

Let the size of the equal paym

Question 4

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

Accepted Answer

I = 49.27;

Question 5

On June 12, 2013, Frank James opened a low interest line of credit at his bank, with interest at 4.5% p.a. He used this line of credit immediately to pay $5 300 of the tuition fee. On what date did Frank James honour the line of credit if he ended up paying $186.20 in interest?

Accepted Answer

I = 186.20; P = 5300; r = 0.04

Question 6

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

Accepted Answer

P = @#IMG-DLM& = @#IMG-DLM& =

Question 7

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 8

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 9

Compute the accumulated value of $6 500.00 at 8.5% after eleven months.

Accepted Answer

P = 6500; r = 0.085;

Question 10

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

Accepted Answer

Number of days = 21

Question 11

Debt obligations of $700.00 due three months ago and $1810.00 due in one month are to be repaid by a payment of $1200.00 today and the balance in six months. What is the size of the final payment if interest is 7.75% and the agreed focal date is one month from now?

Accepted Answer

Let the size of the final payment be $x.

Question 12

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 13

Determine the exact time between January 20, 2012 and May 10, 2012 by counting days.

Accepted Answer

The number

Question 14

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 15

If Inez is charged an interest of $42.95 on a loan of $950.00 for seven months, calculate the rate of interest charged on the loan.

Accepted Answer

I = 42.95;

Question 16

A loan of $10 000.00 is to be repaid in four equal payments due in three months, six months, nine months, and one year respectively after the date of the loan. Calculate the size of the equal payments if interest is 8.5%.

Accepted Answer

@#IMG-DLM& + @#IMG-DLM& + @#IMG-DLM& + @#IMG-DLM& = 10000
0.979192166x

Question 17

Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three months and a final payment in eight months. Calculate the size of the final payment if interest is 6%.

Accepted Answer

Use 8 months as the focal date

Question 18

What is the present value of $41 230.00 due in nine months if interest is 11.1%?

Accepted Answer

S = 41230.00; r = 0.

Question 19

A loan of $1825 taken out on March 10 requires equal payments on April 30, June 19, and August 3, and a final payment of $700 on September 30. If the focal date is September 30, what is the size of the equal payments at 8.6%?

Accepted Answer

Let the size of the equal payments be $x

Question 20

Calculate the amount of interest if $3 000.00 is invested at 6.25% from November 30, 2014 to May 15, 2015.

Accepted Answer

A)  $843.75 
B)  $86.82 
C)  $85.27 
D)  $70.31 
E)  $70.75 
A)  $843.75 
B)  $86.82 
C)  $85.27 
D)  $70.31 
E)  $70.75

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

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

A debt of $1410.00 due 6 months ago and a second debt of $1815.00 due in 4 months with interest at 6.16% p.a. are to be settled by two equal payments due now and 9 months from now respectively. Find the size of the equal payments at 7.37% p.a. with the agreed focal date now.

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

On June 12, 2013, Frank James opened a low interest line of credit at his bank, with interest at 4.5% p.a. He used this line of credit immediately to pay $5 300 of the tuition fee. On what date did Frank James honour the line of credit if he ended up paying $186.20 in interest?

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

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?

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.

Compute the accumulated value of $6 500.00 at 8.5% after eleven months.

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

Debt obligations of $700.00 due three months ago and $1810.00 due in one month are to be repaid by a payment of $1200.00 today and the balance in six months. What is the size of the final payment if interest is 7.75% and the agreed focal date is one month from now?

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.

Determine the exact time between January 20, 2012 and May 10, 2012 by counting days.

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

If Inez is charged an interest of $42.95 on a loan of $950.00 for seven months, calculate the rate of interest charged on the loan.

A loan of $10 000.00 is to be repaid in four equal payments due in three months, six months, nine months, and one year respectively after the date of the loan. Calculate the size of the equal payments if interest is 8.5%.

Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three months and a final payment in eight months. Calculate the size of the final payment if interest is 6%.

What is the present value of $41 230.00 due in nine months if interest is 11.1%?

A loan of $1825 taken out on March 10 requires equal payments on April 30, June 19, and August 3, and a final payment of $700 on September 30. If the focal date is September 30, what is the size of the equal payments at 8.6%?

Calculate the amount of interest if $3 000.00 is invested at 6.25% from November 30, 2014 to May 15, 2015.

Review of Arithmetic

Review of Basic Algebra

Ratio, Proportion, and Percent

Linear Systems

Trade Discount, Cash Discount, Markup, and Markdown

Break-Even and Cost-Volume-Profit Analysis

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, Including Residential Mortgages

Bond Valuation and Sinking Funds

Investment Decision Applications

Filters

Exam 7: Simple Interest

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

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

A debt of $1410.00 due 6 months ago and a second debt of $1815.00 due in 4 months with interest at 6.16% p.a. are to be settled by two equal payments due now and 9 months from now respectively. Find the size of the equal payments at 7.37% p.a. with the agreed focal date now.

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

On June 12, 2013, Frank James opened a low interest line of credit at his bank, with interest at 4.5% p.a. He used this line of credit immediately to pay $5 300 of the tuition fee. On what date did Frank James honour the line of credit if he ended up paying $186.20 in interest?

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

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?

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.

Compute the accumulated value of $6 500.00 at 8.5% after eleven months.

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

Debt obligations of $700.00 due three months ago and $1810.00 due in one month are to be repaid by a payment of $1200.00 today and the balance in six months. What is the size of the final payment if interest is 7.75% and the agreed focal date is one month from now?

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.

Determine the exact time between January 20, 2012 and May 10, 2012 by counting days.

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

If Inez is charged an interest of $42.95 on a loan of $950.00 for seven months, calculate the rate of interest charged on the loan.

A loan of $10 000.00 is to be repaid in four equal payments due in three months, six months, nine months, and one year respectively after the date of the loan. Calculate the size of the equal payments if interest is 8.5%.

Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three months and a final payment in eight months. Calculate the size of the final payment if interest is 6%.

What is the present value of $41 230.00 due in nine months if interest is 11.1%?

A loan of $1825 taken out on March 10 requires equal payments on April 30, June 19, and August 3, and a final payment of $700 on September 30. If the focal date is September 30, what is the size of the equal payments at 8.6%?

Calculate the amount of interest if $3 000.00 is invested at 6.25% from November 30, 2014 to May 15, 2015.

Review of Arithmetic

Review of Basic Algebra

Ratio, Proportion, and Percent

Linear Systems

Trade Discount, Cash Discount, Markup, and Markdown

Break-Even and Cost-Volume-Profit Analysis

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, Including Residential Mortgages

Bond Valuation and Sinking Funds

Investment Decision Applications

Filters