Question
Amy invested $2,560 for 275 days at a simple interest rate of 3.50% p.a. How much more or less interest would he have earned on
Amy invested $2,560 for 275 days at a simple interest rate of 3.50% p.a. How much more or less interest would he have earned on the investment if his money was growing at a simple interest rate of 4.00% p.a. instead of 3.50% p.a.?
Round to the nearest cent
1. Juliana invested $5,000 at 5.50% p.a. simple interest. How many days will it take for her investment to grow to at least $5,200?
Round to the next day
2. Whitney acquired a $5,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of $4,932.37. What was the annual simple interest rate of the T-bill?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
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