Simple
Interest
Interest
Simple interest on a loan for $4,000 given the rate is 7% and it will be paid back in 2.5 years.
What is $630?
The principle for a loan that earns $340 simple interest at 4% for 5 years.
What is $1,700?
Find the amount of interest on a loan for $23,000 at 8% for 119 days if the bank figures interest by the exact interest method.
What is $599.89?
What is 4?
Explain what Present Value is in these problems.
What is the amount you will need to save/invest now to have a given amount in the future?
Simple interest on a loan for $45,000 taken out for 3 months at a rate of 9.75%.
What is $1,096.88?
The time, in years, for a loan that earns $8,125 in simple interest when $12,500 is invested at 6.5%
What is 10 years?
Find the amount of interest on a loan of $4,000 at 7% interest for 88 days if the bank uses exact simple interest.
What is $67.51?
Find the rate per period on an investment that is left for 5 years at 4% compounded quarterly.
What is .04/4=.01=1%
Find the present value of $3,000 if the interest rate is 8% compounded quarterly for 6 years.
What is $1,865.16?
I borrow my friend $130,000 at 10.4% interest for 42 months, find the interest he will owe me.
What is $47,320.00?
The rate of a loan for $3,650 which earns simple interest of $903.38 after 5.5 years. (round to the nearest tenth of a percent)
What is 4.5%?
Find the amount of interest on $15,000 at 9.5% interest for 250 days if the bank uses the ordinary interest method.
What is $989.58?
Find the compounding periods for an investment that lasts 12 years at 8% compounded semiannually.
What is 2x12=24 periods?
Find the amount that a parent would need to invest right now so that 17 years from now, their child would have $30,000 for college. The are looking at an 8% interest rate compounded semiannually.
What is $7,906.56?
Maturity value of the loan for $8,000 at 9% interest for 1 year.
What is $8,720?
The time, in months, for a loan valued at $5,000 and earning $77.50 interest at 6.2%.
What is 3 months?
Find the amount of interest on a loan of $19,500 at 6% for 160 days if the bank uses ordinary simple interest.
What is $520?
Find the compounded amount of an investment for $3,000 invested at 8% interest compounded quarterly for 5 years.
What is $4,457.84?
Find the interest earned on a CD that is worth $6,000 in 3 years if the interest rate is 3.62% compounded quarterly.
What is $614.84?
The maturity value of a loan for $16,500 at 12 1/2% interest for 7 months.
What is $17,703.13?
The rate of a loan for $150,000 which earns $22,950 simple interest for 6 years. (give exact value)
What is 2.55%
Find the difference in the amount of interest on a $1,000,000 loan at 6.4% interest for 150 days if you use exact and ordinary simple interest.
What is $26,666.67-26,301.37=$365.30?
Find the compound interest for an investment of $5,000 at 10% interest compounded monthly for 3 years.
What is $1,740.91?
Your company plans to do an expansion in 8 years. This remodeling will cost you $1.5 million. You find an investment that will earn 9.75% compounded daily. Find what you need to invest now to have this money when you need it. (use 365 days in a year and disregard leap years)
What is $687,680.64?