Exam 7: Simple Interest

What principal will earn $67.52 at 6.75% in 158 days?

Find the maturity value of $1 080.00 invested at 3.65% from July 24, 2014 to December 21, 2014.

What rate of interest is paid if the interest on a loan of $7300.00 is $692.71 from June 11, 2014 to April 2, 2015?

Leo wishes to invest $8 000.00 that he saved from his summer job. His bank offers 3.75% for a one-year term investment or 3.5% for a six-month term. Help Leo to investigate his options. a) How much will Leo receive after one year if he invests at the one-year rate? b) How much will Leo receive after one-year if he invests for six-months at a time at 3.5% each time? c) What would the one-year rate have to be to yield the same amount of interest as the investment described in part b)?

Debt payments of $1170.00 due two months ago and $1243.00 due today respectively are to be repaid by a payment of $1505.00 in one month and the balance in four months. If money is worth 8.4% p.a. and the agreed focal date is four months from now, what is the size of the final payment?

You have $5000 invested in a 30-day savings certificate at an interest rate of 1.00%. How much money will you have when the certificate matures?

Two obligations of $835 each, due 90 days ago and 35 days ago respectively, are to be settled by two equal payments to be made today and 65 days from now respectively. If interest allowed is 8.75% and the agreed focal date is today, what is the size of the equal payments?

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

Debt payments of $1000.00 due today, $500.00 due in 90 days, and $500.00 due in 120 days are to be combined into a single payment to be made 120 days from today. What is that single payment if money is worth 9.00% p.a. and the agreed focal date is 120 days from today?

Calculate the amount of interest that will be charged on $7000.00 borrowed for five months at 5.5%.

What rate of interest is required for $940.48 to earn $42.49 interest from September 30, 2011, to March 4, 2012?

The exact number of days between January 25, 2012 and March 25, 2012 is?

You have $4,447 invested in a 180-day savings certificate at an interest rate of 3.65%. How much money will you have when the certificate matures?

You currently owe $1400 today and $2 317 in 195 days at a rate of interest of 7%. What is the single equivalent payment 150 days from today?

Payments of $5100 each due in five, ten, and fourteen months from now are to be settled by three equal payments due today, seven months from now, and eleven months from now. What is the size of the equal payments if interest is 8.75% and the agreed focal date is today?