interest math problems

interest math problems - Simple interest 1. If you take out...

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Simple interest 1. If you take out a 45-day loan for $8500 at a rate of 8.125% per year, where simple interest is used, how much interest will you owe at repayment? (Use a banker's year.) (a) $39.20 (b) $76.12 (c) $86.33 (d) $89.20 (e) $84.65 2. If you take out a 45-day loan for $8000 at a rate of 8.25% per year, where simple interest is used, how much interest will you owe at repayment? (Use a banker's year.) (a) $39.20 (b) $76.12 (c) $82.50 (d) $89.20 (e) $84.65 3. If you take out a 90-day loan for $15,200 at a rate of 9 3 4 % per year, where simple interest is used, how much interest will you owe when the loan comes due? (a) $390.63 (b) $385.27 (c) $370.50 (d) $385.21 (e) $383.01 4. Mortgage payments are calculated using simple interest each month. If the mortgage balance at the beginning of the month is $176,500 and the interest rate is 7% per year, what is the interest owed at the end of the month? (a) $1221.25 (b) $1119.78 (c) $1765.00 (d) $1235.50 (e) $1029.58 5. If you take out a 150-day loan for $12,500 at a rate of 7 1 2 % per year, where simple interest is used, how much interest will you owe when the loan comes due? (a) $385.27 (b) $377.60 (c) $390.63 (d) $385.21 (e) $383.01
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interest is used, how much interest will you owe when you repay the loan? (a) $151.21 (b) $306.60 (c) $140.63 (d) $128.00 (e) $187.50 7. If you take out a loan for $6500 at a rate of 6 1 2 % per year, where simple interest is used, how much interest will you owe at the end of 150 days? (a) $144.55 (b) $154.63 (c) $173.63 (d) $152.63 (e) $176.04 8. If you take out a 210-day loan for $14,200 at a rate of 7.5% per year, where simple interest is used, how much interest will you owe when the loan comes due? (a) $621.25 (b) $532.50 (c) $651.16 (d) $615.21 (e) $591.67 9. If you take out a 45-day loan for $8500 at a rate of 8.125% per year, where simple interest is used, how much interest will you owe at repayment? (Use a banker's year.) (a) $39.20 (b) $76.12 (c) $86.33 (d) $89.20 (e) $84.65 10. If you take out a 180-day loan for $14,200 at a rate of 7.5% per year, where simple interest is used, how much interest will you owe when the loan comes due? (a) $551.16
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interest math problems - Simple interest 1. If you take out...

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