Question 1

What amount of money would have to be invested at 3.75% to grow to $10 000 after 91 days?

Accepted Answer

A)  $10 375 
B)  $2586 
C)  $9639 
D)  $9907 
E)  $10 000 
A)  $10 375 
B)  $2586 
C)  $9639 
D)  $9907 
E)  $10 000

Question 2

You have $4447 invested in a 180-day savings certificate at an interest rate of 3.65%. How much money will you have when the certificate matures?

Accepted Answer

A)  $5427.05 
B)  $4572.05 
C)  $5472.05 
D)  $4527.05 
E)  $4257.05 
A)  $5427.05 
B)  $4572.05 
C)  $5472.05 
D)  $4527.05 
E)  $4257.05

Question 3

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 paym

Question 4

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

Accepted Answer

DT1 is March 1, 2012

Question 5

Calculate the amount of interest if $700.00 is invested at 5.5% for two years and nine months.

Accepted Answer

A)  $111.65 
B)  $105.88 
C)  $10 587.50 
D)  $1058.75 
E)  $158.65 
A)  $111.65 
B)  $105.88 
C)  $10 587.50 
D)  $1058.75 
E)  $158.65

Question 6

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

Accepted Answer

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

Question 7

What principal will have a future value of $640, at 12.1% in 6 months?

Accepted Answer

A)  $600 
B)  $603.50 
C)  $678.72 
D)  $370.80 
E)  $800 
A)  $600 
B)  $603.50 
C)  $678.72 
D)  $370.80 
E)  $800

Question 8

What principal will have a maturity value of $61 500.00 at 6.5% p.a. in 17 months?

Accepted Answer

S = 61500.

Question 9

Compute the accumulated value of $6500.00 at 8.5% after eleven months.

Accepted Answer

P = 6500;

Question 10

Payments of $1430 due one year ago and $1175 due with interest of 6% in nine months are to be settled by three equal payments due today, seven months from now, and one year from now at 7.5%. Determine the size of the equal payments if the agreed focal date is one year from today.

Accepted Answer

Let the size of the equal payments be $x

Question 11

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

Accepted Answer

P = 7000; r = 0.055;

Question 12

What rate of interest is required for $940.48 to earn $42.49 interest from September 30, 2013, to March 4, 2014?

Accepted Answer

Number of days = 1 +

Question 13

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?

Accepted Answer

Let the size of the equal paym

Question 14

The simple interest rate being charged on a $10 000 is 0.5% per month. What is the total amount paid, if the entire loan is paid in 9 months?

Accepted Answer

P = $10,000
r = 0.5%

Question 15

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?

Accepted Answer

P = 7300; I = 692.71
Time peri

Question 16

How much interest will you pay on a loan of $15 500 if you are paying the loan off in 9 months? Your loan rate is 7.125%.

Accepted Answer

A)  $828.28 
B)  $838.28 
C)  $848.28 
D)  $818.28 
E)  $858.28 
A)  $828.28 
B)  $838.28 
C)  $848.28 
D)  $818.28 
E)  $858.28

Question 17

Debt payments of $1925.00 due today, $510.00 due in 87 days, and $674.00 due in 337 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.65% p.a. and the agreed focal date is 115 days from now?

Accepted Answer

Let the single payme

Question 18

Compute the accumulated value of $10 000.00 at 9% after six months.

Accepted Answer

P = 10000.00; r = 0.

Question 19

How many months will it take $639 to grow to $795 at 8.45% p.a.?

Accepted Answer

I = 795.00 - 639.00

Question 20

What rate of interest did you receive over a period of 90 days if your principal was $5000 and it has a maturity value of $6000?

Accepted Answer

A)  81.11% 
B)  8.11% 
C)  0.811% 
D)  0.0811% 
E)  811.11% 
A)  81.11% 
B)  8.11% 
C)  0.811% 
D)  0.0811% 
E)  811.11%

What amount of money would have to be invested at 3.75% to grow to $10 000 after 91 days?

You have $4447 invested in a 180-day savings certificate at an interest rate of 3.65%. How much money will you have when the certificate matures?

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 date represented by 100 days after March 1, 2012.

Calculate the amount of interest if $700.00 is invested at 5.5% for two years and nine months.

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

What principal will have a future value of $640, at 12.1% in 6 months?

What principal will have a maturity value of $61 500.00 at 6.5% p.a. in 17 months?

Compute the accumulated value of $6500.00 at 8.5% after eleven months.

Payments of $1430 due one year ago and $1175 due with interest of 6% in nine months are to be settled by three equal payments due today, seven months from now, and one year from now at 7.5%. Determine the size of the equal payments if the agreed focal date is one year 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, 2013, to March 4, 2014?

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?

The simple interest rate being charged on a $10 000 is 0.5% per month. What is the total amount paid, if the entire loan is paid in 9 months?

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?

How much interest will you pay on a loan of $15 500 if you are paying the loan off in 9 months? Your loan rate is 7.125%.

Debt payments of $1925.00 due today, $510.00 due in 87 days, and $674.00 due in 337 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.65% p.a. and the agreed focal date is 115 days from now?

Compute the accumulated value of $10 000.00 at 9% after six months.

How many months will it take $639 to grow to $795 at 8.45% p.a.?

What rate of interest did you receive over a period of 90 days if your principal was $5000 and it has a maturity value of $6000?

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

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Exam 7: Simple Interest

What amount of money would have to be invested at 3.75% to grow to $10 000 after 91 days?

You have $4447 invested in a 180-day savings certificate at an interest rate of 3.65%. How much money will you have when the certificate matures?

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 date represented by 100 days after March 1, 2012.

Calculate the amount of interest if $700.00 is invested at 5.5% for two years and nine months.

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

What principal will have a future value of $640, at 12.1% in 6 months?

What principal will have a maturity value of $61 500.00 at 6.5% p.a. in 17 months?

Compute the accumulated value of $6500.00 at 8.5% after eleven months.

Payments of $1430 due one year ago and $1175 due with interest of 6% in nine months are to be settled by three equal payments due today, seven months from now, and one year from now at 7.5%. Determine the size of the equal payments if the agreed focal date is one year 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, 2013, to March 4, 2014?

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?

The simple interest rate being charged on a $10 000 is 0.5% per month. What is the total amount paid, if the entire loan is paid in 9 months?

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?

How much interest will you pay on a loan of $15 500 if you are paying the loan off in 9 months? Your loan rate is 7.125%.

Debt payments of $1925.00 due today, $510.00 due in 87 days, and $674.00 due in 337 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.65% p.a. and the agreed focal date is 115 days from now?

Compute the accumulated value of $10 000.00 at 9% after six months.

How many months will it take $639 to grow to $795 at 8.45% p.a.?

What rate of interest did you receive over a period of 90 days if your principal was $5000 and it has a maturity value of $6000?

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