Multiple Choice Question 1-10 (wk3Qu)

Sigchi4life
Category:
Business & Finance
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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(Top Tutor) Daniel C.
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School: University of Virginia
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