Simple Interest
How much interest would a loan of $8000, borrowed at 6.25% p.a., earn over 7 months?
$291.67
Your credit card has a rate of 19.50% compounded daily. What is the effective annual rate of interest?
21.52%
A short term loan of $12,000 was charged $177.54 in interest. If the loan was 135 days, what was the rate of interest? ROUND YOUR ANSWER TO 2 DECIMAL PLACES.
4.00%
Anya invested $6000 into an account earning 6.50% compounded monthly. How much will Anya have in the account 4.5 years later?
$8032.29
How much money did Morgan invest 19 months ago if he now has $24,383.85 in his account? The interest rate is 3.80% p.a.
$23,000.02
Fisher has to pay back $7407.65 in 6.5 years. The rate of interest on his debt is 7.60% compounded quarterly. What was the original amount of his loan?
$4541.00
How many COMPLETE days would it take $15,000 to grow to $15,599.17 worth of interest if the interest rate is 6% p.a.?
243 days
Simran invested $14,000 into a GIC with a rate of 3.84%, compounded semi-annually. If her investment term is 15 months, how much interest will she earn?
$681.71