1. A bank offered 6% p.a. simple interest on an investment and at the end of three years the interest paid was $900. What was the original investment?

2. Linda invested $2500 for 36 months and earned $375 simple interest. What was his yearly interest rate?

3. Ramil has been given $1000 as a twenty-first birthday present. How long does she need to invest in order to earn $150 if the bank is offering 5% p.a. simple interest?

4. Having received an inheritance from his late father, Isaiah invested the money for 5 years at 5.25% simple interest per annum and earned $5775 in total interest. How much was Isaiah's inheritance?

5. Find the principal needed now to get each amount, that is, find the present value.

a) To get $100 after 2 years at 6% compounded monthly.

b) To get $75 after 3 years at 8% compounded quarterly.

6. A principal of 25000 is invested at 12% interest compounded annually. After how many years will it have exceeded 250000?

7. Over a five-year period, an original principal of $2000 accumulated to $2950 in an account in which interest was compounded quarterly. Determine the effective rate of interest to two decimal places.

8. $1000 accumulated to $1959 in an investment certificate in which interest was 4.25% compounded quarterly. Find the span of time of the investment.

9. Construct an amortization table if you get a $9,000 loan from a furniture dealer at 18% annual interest with annual payments that you will pay off in

over five years. What will your annual payments be on this loan?