Question 1

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

Accepted Answer

S = 539.04; r = 0.114; t =   P =   =   =   =   = $523.19

Question 2

Determine the exact time between January 21,2014 and September 13,2014 by counting days.

Accepted Answer

(31-21)+ 1 + 28 + 31 + 30 + 31 + 30 + 31 + 31 + 12 = 235

Question 3

Debt payments of $1610.00 due today,$725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now.What is that single payment,if money is worth 9.5% p.a.and the agreed focal date is 170 days from now?

Accepted Answer

Let the size of the single payment be $x. At the agreed focal date (170 days now): 1610   + 725   +   = x   The size of the single payment is $3067.99.

Question 4

How much money do you have to invest in order to accumulate a total of $10 000 in 365 days if you are able to earn 5.00% on your money?

Accepted Answer

A) $9533.81 
B) $9523.81 
C) $10000.81 
D) $8523.81 
E) $5923.81 
A) $9533.81 
B) $9523.81 
C) $10000.81 
D) $8523.81 
E) $5923.81

Question 5

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%?

Accepted Answer

Let the size of the equal payments be $x

Question 6

Tamiko invested $1500.00 at a bank for eight months at an interest rate of 4   %.Calculate the maturity value of the investment.

Accepted Answer

P = 1500; t = @#IMG-DLM& ; r =

Question 7

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

Accepted Answer

I = $85; r

Question 8

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 9

Dion is supposed to pay Kristy $3500 on April 20,but delays the payment until July 1.What amount should Dion expect to pay on July 1,if Kristy can earn 8.25% on a low-risk investment?

Accepted Answer

A) $3788.75 
B) $3557.75 
C) $3556.96 
D) $3556.17 
E) $3500 
A) $3788.75 
B) $3557.75 
C) $3556.96 
D) $3556.17 
E) $3500

Question 10

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

Accepted Answer

Interest: I = 4845.9

Question 11

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

Accepted Answer

P = 10000.00; r = 0.

Question 12

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

Accepted Answer

I = 67.52;

Question 13

Misra purchases an airplane ticket to Calgary today on the airline's early bird sale for $559,instead of buying it for $599 four months from now.Had he not bought the ticket today,he would have invested the money in bonds yielding 9% return.What is his true savings?

Accepted Answer

Future value from bond = S = P

Question 14

What sum of money will accumulate to $3700.00 at 14.75% p.a.in 451 days?

Accepted Answer

S = 3700;

Question 15

What rate of interest did you receive over a period of 67 days if your principal was $7444 and it has a maturity value of $7601?

Accepted Answer

A) 11.94% 
B) 11.49% 
C) 11.69% 
D) 11.29% 
E) 11.99% 
A) 11.94% 
B) 11.49% 
C) 11.69% 
D) 11.29% 
E) 11.99%

Question 16

Ed plans to receive $2000 interest in 200 days on his investment of $40 000.At what interest rate should he plan to invest?

Accepted Answer

A) 9.1% 
B) 9.6% 
C) 34.7% 
D) 10% 
E) 20% 
A) 9.1% 
B) 9.6% 
C) 34.7% 
D) 10% 
E) 20%

Question 17

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

Accepted Answer

The number of days i

Question 18

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 19

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%

Question 20

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

Accepted Answer

Number of days = 24

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

Determine the exact time between January 21,2014 and September 13,2014 by counting days.

Debt payments of $1610.00 due today,$725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now.What is that single payment,if money is worth 9.5% p.a.and the agreed focal date is 170 days from now?

How much money do you have to invest in order to accumulate a total of $10 000 in 365 days if you are able to earn 5.00% on your money?

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%?

Tamiko invested $1500.00 at a bank for eight months at an interest rate of 4 %.Calculate the maturity value of the investment.

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

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

Dion is supposed to pay Kristy $3500 on April 20,but delays the payment until July 1.What amount should Dion expect to pay on July 1,if Kristy can earn 8.25% on a low-risk investment?

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

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

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

Misra purchases an airplane ticket to Calgary today on the airline's early bird sale for $559,instead of buying it for $599 four months from now.Had he not bought the ticket today,he would have invested the money in bonds yielding 9% return.What is his true savings?

What sum of money will accumulate to $3700.00 at 14.75% p.a.in 451 days?

What rate of interest did you receive over a period of 67 days if your principal was $7444 and it has a maturity value of $7601?

Ed plans to receive $2000 interest in 200 days on his investment of $40 000.At what interest rate should he plan to invest?

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

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?

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?

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

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 Interestfuture Value and Present Value

Compound Interestfurther 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

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Exam 7: Simple Interest

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

Determine the exact time between January 21,2014 and September 13,2014 by counting days.

Debt payments of $1610.00 due today,$725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now.What is that single payment,if money is worth 9.5% p.a.and the agreed focal date is 170 days from now?

How much money do you have to invest in order to accumulate a total of $10 000 in 365 days if you are able to earn 5.00% on your money?

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%?

Tamiko invested $1500.00 at a bank for eight months at an interest rate of 4 %.Calculate the maturity value of the investment.

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

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

Dion is supposed to pay Kristy $3500 on April 20,but delays the payment until July 1.What amount should Dion expect to pay on July 1,if Kristy can earn 8.25% on a low-risk investment?

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

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

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

Misra purchases an airplane ticket to Calgary today on the airline's early bird sale for $559,instead of buying it for $599 four months from now.Had he not bought the ticket today,he would have invested the money in bonds yielding 9% return.What is his true savings?

What sum of money will accumulate to $3700.00 at 14.75% p.a.in 451 days?

What rate of interest did you receive over a period of 67 days if your principal was $7444 and it has a maturity value of $7601?

Ed plans to receive $2000 interest in 200 days on his investment of $40 000.At what interest rate should he plan to invest?

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

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?

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?

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

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 Interestfuture Value and Present Value

Compound Interestfurther 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