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Exam 7: Simple Interest

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Question 21

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Determine the principle amount Bruce Wayne must invest if $1485 of interest was earned over 10 months with a rate of 0.6%.

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Question 22

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

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(31-21)+ 1 + 28 + 31...

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Question 23

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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.

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

What is the present value of $9700.00 due at 6.25% p.a. in 89 days?

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

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?

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

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

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?

A loan of $1825 taken out on March 10 requires equal payments on April 30, June 19, and August 3, and a final payment of $700 on September 30. If the focal date is September 30, what is the size of the equal payments at 8.6%?

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.

Determine the number of days it will take $478.00 to earn $17.09 at %.

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?

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

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

Pablo invested $1965 in a 3-month term deposit at 2.2% p.a. What is the maturity value of this deposit?

What sum of money will accumulate to $1426.80 in eight months at 7.78%?

CentSmart Inc. deposited $83 215 into an account that had a simple interest rate of 2.3% on February 27th, 2015. On New Year's Eve, how much interest had been earned on that deposit?

Find the maturity value of $832.00 invested at 8.8% from May 20, 2013, to November 23, 2013.