Question
Jennifer owes $600 due in 9 months and $1,500 plus 6% interest due in 3 months. She wants to pay off both debts in a
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Jennifer owes $600 due in 9 months and $1,500 plus 6% interest due in 3 months. She wants to pay off both debts in a single payment in 11 months. How much should she pay if the money is worth 5%?
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If the rate of interest is 712%, when will one single payment of $3,550 discharge the following three debts: $550 due in 30 days, $1,300 due in 45 days, and $1,700 due in 70 days?
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What is the ordinary interest if the exact interest is $320.59?
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What is the exact interest if the ordinary interest is $117.50?
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What is the simple interest rate for a fund that starts with $1,550 on July 15, a deposit of $730 37 days later, a withdrawal of $250 100 days later, and a balance of $2,211?
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Find the simple rate of interest on the following transactions using the dollar- weighted method. (a) $312.50 initial deposit on March 15 (b) $617.70 another deposit on May 25
(c) $115.20 withdrawal on June 17 (d) $250.00 deposit on July 1 (e) $1,229 balance on October 8
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