1) personal loan of $6000 is taken from someone on 20 august 2015. he is charged a simple interest rate of 8%. find the amount paid on 15 december 2015 using Banker's Rule.

2) erin need $3500 immediately. find the amount that she should borrow for 200 day from a bank that charges 8.5% bank discount rate. by using formula

D=Sdt

where

D = Bank Discount

S = Maturity Value

d = Simple Discount Rate

t = time (discount period, in year)

3) $40000 were invest that pay interest at 5.5% compounded quarterly t years ago. Find t if the amount of the investment today is $64555.53. By using formula

S=P(1+i)^n

where

S = Future Value (accumulated value) after n investment period

P = Principal value

4) loan that charged interest at 6.6% compounded monthly is take by Sarah. she repay the loan 8 years with monthly payment of $677. after paying the 66th payment, she decides to settle the balance of the loan. Find the balance to be paid. By using formula

A=R[1-(1+i)^(-n)/i]

Where

R=Periodic payment

i=Periodic interest rate

n=Investment period

S=Future value of annuity after interest periods

Interest = Amount Given - Present Value

I = nR-A