Exam 7: Simple Interest

A debt of $7120 is to be settled by two equal payments due today,and three years from now respectively.Determine the size of the equal payments if money is worth 8.73% and the agreed focal day is today.

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

How much money do you have to invest in order to accumulate a total of $4761 in 327 days if you are able to earn 9.52% on your money?

You owed $700.00 35 days ago,and you missed the payment.You also owe an additional $600 in 5 months.What single equivalent value is due if your focal date is today and you are paying at an interest rate of 8.46% on your debt?

What payment is required to pay off a loan of $1750.00 at 7.25% fourteen months later?

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

Didzo took a loan of $14 600 on January 10,2013 at a rate of 9.25%.He repaid the loan on June 4,2013.What is the interest due on repayment date?

What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?

What rate of interest did you earn for a period of 2417 days if you invested $175 and you earned $222 in interest?

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

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

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

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.

Interest of $429.48 was charged on a loan of $9500 over a period of 7 months.What simple rate of interest was charged on the loan?

A bank pays an interest of 4.5% for a three month term deposit.Calculate the amount that Stacy must invest to earn an interest of $100.00.

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

Daniel's credit card statement last month showed $560 in cash advances and $5.25 in interest charges.The interest rate on the statement was 18.8%.For how many days was Daniel charged interest?

You owe $3572.75 in 147 days and have decided to pay off your loan early.Your interest rate is 6.52%.What is the size of the cheque that you write today to pay off all of your debt?

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.

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?