1.Suppose Robin borrowed $3,600 on October 21 and repaid the loan on February 21 of the following year. What simple interest rate was charged if Robin repaid $3,694.63?

2.Tula lent $15,000 to a business associate on August 12 at 6% simple interest. The loan was to be repaid on November 27; however, the business associate was unable to make the payment. As a consequence, they agreed that the associate could repay the debt on December 29 and that Tula would add $200 to the balance that was due on November 27. What rate of simple interest is Tula charging on the late payment?

3.An investor with $75,000 is weighing options between a 200-day GIC or two back-to-back 100-day GICs. The 200-day GIC has a posted simple interest rate of 1.4%. The 100-day GICs have a posted simple interest rate of 1.35%. The maturity value of the first 100-day GIC would be reinvested in the second 00-day GIC (assume the same interest rate upon renewal). Which alternative is best and by how much?

4.A $4,700 promissory note is issued on November 12 for an 11-month term (February is a leap year) carrying an annual interest rate of 12%. It is sold on July 3 with a negotiated interest rate of 16%. Determine the proceeds of the sale.

5.A Government of Canada V39065 issue 90-day T-bill achieved its highest rate of return on May 24, 2000, with a yield of 5.74%. It realized its lowest rate of return on February 26, 2010, with a yield of 0.16%. Calculate the purchase price of a $100,000 T-bill on each of these dates. In dollars, how much more yield did an investor realize in 2000 than in 2010?

6.What level of output will generate a net income of $15,000 if a product sells for $24.99, has unit variable costs of $9.99, and total fixed costs of $55,005?

7.The Puzzle Company had total revenue of $4,750,000, total fixed costs of $1,500,000, and total variable costs of $2,750,000. If the company desires to earn a net income of $1,000,000, what total sales volume is needed to achieve the goal?

8.Daisy is trying to figure out how much negotiating room she has in purchasing a new car. The car has an MSRP of $34,995.99. She has learned from an industry insider that most car dealerships have a 20% markup on selling price. What does she estimate the dealership paid for the car?

9.Frigid Boards purchases one of its snowboards for $395 less a retail trade discount of 15% and a loyalty discount of 4%. Its markup on selling price percentage on all snowboards is 21%. At the end of the season, any leftover snowboards are marked down by 10%. What is the sale price for the snowboard?

10.Procter & Gamble just received payment for a large export of Tide in the amount of 275,000 Denmark kroner (DKK). If the exchange mid-rate is CAD$0.1992 per DKK and the bank charges 3% on its buy rates, how many Canadian dollars will Procter & Gamble receive?