Multiple Choice Question 1-10 (wk3Qu)

Sigchi4life
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Price: \$10 USD

Question description

QUESTION 1

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

 \$160.00 \$14.00 \$140.00 \$2140.00

10 points

QUESTION 2

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

 \$236.76 \$198.96 \$157.84 \$197.30

10 points

QUESTION 3

1. 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?

 \$786.54 \$793.15 \$674.18 \$898.90

10 points

QUESTION 4

1. 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?

 \$10,441.81 \$10,354.80 \$10,805.00 \$9904.59

10 points

QUESTION 5

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

 \$908.88 \$478.36 \$1287.58 \$871.01

10 points

QUESTION 6

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

 \$16,321.50 \$8920.66 \$23,226.75 \$16,949.25

10 points

QUESTION 7

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

 \$7106.39 \$7103.73 \$7024.55 \$7182.91

10 points

QUESTION 8

1. 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.

 \$15,048.07 \$14,909.81 \$15,186.32 \$15,057.36

10 points

QUESTION 9

1. 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.

 \$56,099.03 \$55,807.96 \$55,413.13 \$55,756.08

10 points

QUESTION 10

1. 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.

 \$4725.16 \$4136.46 \$4773.17 \$5253.23

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