Question

# 1) how much interest was paid on a $2300 loan for six months at the annual interest rate of 5.3%

2) what

annual rate of interest was earned if a $32,000 investment for four months earned $1024 in interest

3) Morgan loan $3700 to Ralph at a simple interest rate of 0.95% per month what was the term of the loan if the total interest came to 175.75!

4) an $101,000 investment earned a 5.5% rate of simple interest from December 16, 2015 to May 2, 2016 how much interest is earned?

5) what was the principal amount of a loan at 9 1/2% if the total amount owed after 37 days was $928.86

6) The balance after 10 months including interest on a loan at 9.2% is $16,796 what are the principal and interest components of the balance?

7) Janice has savings of $9893.47 if he can investors amount earned 3.1% how many days will it take for the investment to grow to $10,100 also calculate the interest earned for this investment.

8) what amount of money paid today is equivalent to $660 paid six months from now if money can earn 4 3/4% percent per annum?

9) what amount paid on September 16 is equivalent to 1600 paid on the following December 1 if money can earn 5.6%?

10) to settle a $680 invoice and I can pay 660 now or the full amount and 90 days later which alternate should she choose if money can earn 11 3/4%?

11) A payment stream consist of three payments $2300 due today $2800 due in 110 days from today and $3300 due 220 days from today. What single payment, 90 days from today, is economically equivalent to the payment stream of money can be invested at a rate of 4.8%?

A payment stream consist of three payments $2300 due today $2800 due in 110 days from today and $3300 due 220 days from today. What single payment, 90 days from today, is economically equivalent to the payment stream of money can be invested at a rate of 4.8%?

12) how much interest will be earned on $8000 over a period of four months if the interest rate is 6.5%?

13) how much must be placed in a two month term deposit earning 4.8% in order to earn $275 interest?

14) A $10,000.90 day term deposit earns 4.5% interest how much will the depositor have at A $10,000.90 day term deposit earns 4.5% interest how much will the depositor have at maturity?

15) what principle will grow to $12,031.25 at 7.5% interest in 15 months?

16) Susan wants 120 day extension on a payment of $2000 if she and her creditor agree that money cannot earn 6% what amount should you pay at the later date?

#### Top Answer

Simple interest is a quick and easy method of calculating the interest... View the full answer