Question 1

An investment of $12 000.00 earns an interest of $480.00.Calculate the time in months if the interest rate is 6%.

Accepted Answer

P = 12 000; I = 480;

Question 2

Calculate the amount of interest if $2000.00 is invested at 6% for 200 days.

Accepted Answer

A) $65.75 
B) $120.00 
C) $54.25 
D) $6575.34 
E) $240.00 
A) $65.75 
B) $120.00 
C) $54.25 
D) $6575.34 
E) $240.00

Question 3

At what rate of interest must a principal of $1535.00 be invested to earn interest of $75.46 in 235 days?

Accepted Answer

P = 1535.0

Question 4

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 5

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

Accepted Answer

P = 500; I = 20; r =

Question 6

Hydro One plans to complete a modification with the project start date of March 12.The procurement activities begin on July 6 worth $3.5 million.Calculate the amount the project manager obtains on March 12 to pay for all the procurement,if money is worth 2.5% per year

Accepted Answer

The answer of Hydro One plans to complete a modification...

Question 7

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 8

Leo wishes to invest $8000.00 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)?

Accepted Answer

P = 80000 a)r = 0.0375; t = 1 year @#IMG-DLM& b)Fo

Question 9

A loan of $3325.00 is to be repaid by three equal payments due in 102 days,157 days and 189 days respectively.Determine the size of the equal payments at 12.15% p.a.with a focal date of today.

Accepted Answer

Let the size of the equal paym

Question 10

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

Accepted Answer

I = 795.00 - 639.00

Question 11

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 12

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 13

What rate of interest is paid if the interest on a loan of $3500.00 is $99.06 from November 14,2013 to May 20,2014?

Accepted Answer

Number of days = 16

Question 14

A $10 000 loan advanced on February 15 at a 10% interest rate requires equal payments after 61 days,122 days and 183 days from the day of the loan.What should be the value of the equal payments?

Accepted Answer

Let x be the value of equal payment. Pre

Question 15

Leons advertises a bed room set for $1495 with nothing down,no payments and no interest for 6 months.What cash price should the store be willing to accept if,on a 6 month investment,Leons can earn a rate of 9%?

Accepted Answer

A) $1629.55 
B) $1562.28 
C) $1371.56 
D) $1430.62 
E) $1495 
A) $1629.55 
B) $1562.28 
C) $1371.56 
D) $1430.62 
E) $1495

Question 16

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 obligation if interest is to be 14% and the agreed focal date is 90 days from now?

Accepted Answer

Let the size of the single pay

Question 17

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

Accepted Answer

I = 192.29; P = 4100

Question 18

Determine the exact time between January 30,2014 and May 20,2014 by counting days.

Accepted Answer

The number of days i

Question 19

Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at 9.0%.

Accepted Answer

P = 9000; r = 0.09;

Question 20

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?

Accepted Answer

Let the size of the final paym

An investment of $12 000.00 earns an interest of $480.00.Calculate the time in months if the interest rate is 6%.

Calculate the amount of interest if $2000.00 is invested at 6% for 200 days.

At what rate of interest must a principal of $1535.00 be invested to earn interest of $75.46 in 235 days?

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

Hydro One plans to complete a modification with the project start date of March 12.The procurement activities begin on July 6 worth $3.5 million.Calculate the amount the project manager obtains on March 12 to pay for all the procurement,if money is worth 2.5% per year

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?

A loan of $3325.00 is to be repaid by three equal payments due in 102 days,157 days and 189 days respectively.Determine the size of the equal payments at 12.15% p.a.with a focal date of today.

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

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

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

What rate of interest is paid if the interest on a loan of $3500.00 is $99.06 from November 14,2013 to May 20,2014?

A $10 000 loan advanced on February 15 at a 10% interest rate requires equal payments after 61 days,122 days and 183 days from the day of the loan.What should be the value of the equal payments?

Leons advertises a bed room set for $1495 with nothing down,no payments and no interest for 6 months.What cash price should the store be willing to accept if,on a 6 month investment,Leons can earn a rate of 9%?

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 obligation if interest is to be 14% and the agreed focal date is 90 days from now?

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

Determine the exact time between January 30,2014 and May 20,2014 by counting days.

Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at 9.0%.

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?

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

Exam 7: Simple Interest

An investment of $12 000.00 earns an interest of $480.00.Calculate the time in months if the interest rate is 6%.

Calculate the amount of interest if $2000.00 is invested at 6% for 200 days.

At what rate of interest must a principal of $1535.00 be invested to earn interest of $75.46 in 235 days?

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

Hydro One plans to complete a modification with the project start date of March 12.The procurement activities begin on July 6 worth $3.5 million.Calculate the amount the project manager obtains on March 12 to pay for all the procurement,if money is worth 2.5% per year

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?

A loan of $3325.00 is to be repaid by three equal payments due in 102 days,157 days and 189 days respectively.Determine the size of the equal payments at 12.15% p.a.with a focal date of today.

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

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

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

What rate of interest is paid if the interest on a loan of $3500.00 is $99.06 from November 14,2013 to May 20,2014?

A $10 000 loan advanced on February 15 at a 10% interest rate requires equal payments after 61 days,122 days and 183 days from the day of the loan.What should be the value of the equal payments?

Leons advertises a bed room set for $1495 with nothing down,no payments and no interest for 6 months.What cash price should the store be willing to accept if,on a 6 month investment,Leons can earn a rate of 9%?

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 obligation if interest is to be 14% and the agreed focal date is 90 days from now?

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

Determine the exact time between January 30,2014 and May 20,2014 by counting days.

Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at 9.0%.

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?

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