Week 3 Quiz- Business math

Oct 28th, 2015
HelloWorld
Category:
Engineering
Price: $10 USD

Question description

 

1. Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year.

2. Find the interest paid on a loan of $3946 for 5 months at a simple interest rate of 12% per year. 

3. How much interest will have to be paid on a loan of $10,138 for 7 months at a simple interest rate of 13.3% per year?

4.How much interest will have to be paid on a loan of $50,967 for 23 months at a simple interest rate of 10.6% per year?  

 5. Find the interest paid on a loan of $5410 at 7% annual simple interest for 2.4 years. 

6. Find the interest paid on a loan of $69,750 at 9% annual simple interest for 2.7 years 

7. Find the maturity value of a loan of $6787 after 4 months. The loan carries a simple interest rate of 14% per year. 

8. Find the maturity value of a loan of $13,942 after 8 months. The loan carries a simple interest rate of 11.9% per year

9. Find the maturity value of a loan of $49,583 after 18 months. The loan carries a simple interest rate of 8.3% per year.

10.Find the total amount of money (maturity value) that the borrower will pay back on a loan of $3429 at 14% annual simple interest for 2.8 years.


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