Question
Calculate the simple interest. (6 marks) Principal Rate per Annum Time Simple Interest $1356.78 8% 6 years $685.43 9.25% 7 months $1595.85 7.75% 185 days
- Calculate the simple interest. (6 marks)
| Principal | Rate per Annum | Time | Simple Interest |
| $1356.78 | 8% | 6 years |
|
| $685.43 | 9.25% | 7 months |
|
| $1595.85 | 7.75% | 185 days |
|
- Calculate the principal. (6 marks)
| Simple Interest | Rate per Annum | Time | Principal |
| $1275.00 | 8.5% | 3 years |
|
| $585.90 | 9.25% | 5 months |
|
| $210.75 | 8.75% | 63 days |
|
- Calculate the interest rate per annum correct to 1 decimal place. (6 marks)
| Principal | Simple Interest | Time | Rate per Annum |
| $10,563.77 | $7394.64 | 7 years |
|
| $6854.25 | $433.53 | 11 months |
|
| $450.00 | $7.22 | 66 days |
|
- Calculate the simple interest, then amount due. (6 marks)
| Principal | Rate per Annum | Time | Simple Interest | Amount |
| $750.00 | 8% | 5 years |
|
|
| $2765.95 | 10.5% | 7 months |
|
|
- A debt of $450.00, principal and interest is to be paid in 9 months. If the current rate of interest is 7.6% per annum, calculate the amount that would cancel debt today. (3 marks)
- Mark Wales made an investment of $5500. At the end of the year, he sold his investment for $5987.60. What annual rate of interest, correct to 2 decimal places, did his investment earn? (3 marks)
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Finance And Economics Discussion Series Should Risky Firms Offer Risk Free DB Pensions
Authors: United States Federal Reserve Board, David A. Love
1st Edition
128870500X, 9781288705009
