Simple Interest

1. Find the principle and the interest amount

Present Value (Principal)	Interest Amount	Future Value (Maturity Value)	Interest Rate	Time
?	?	$4036.34	8.4%	220 days

(a) The principle is $____

(b) The interest amount is $___

2. Two scheduled debt payments of $228 each are due two months and nine months from now respectively. If interest at 4% is allowed, what single payment today is required to settle the two scheduled payments?

The single payment required to settle the two scheduled payments is $___

3. A loan payment of $1700.00 was due 40 days ago and another payment of $800.00 is due 40 days from now. What single payment 130 days from now will pay off the obligations if interest is to be 6% and the agreed focal date is 130 days from now?

The value of the payment is $___

4. Krista borrowed $15,797. The loan is to be repaid by three equal payments due in 56, 137, and 283 days from now respectively. Determine the size of the equal payments at an interest rate of 4% with a focal date of today.

The size of the equal payments is $___

5. Find the equivalent replacement payments for the following scheduled payment.

Original Scheduled Payment	Replacement Payment	Focal Date	Rate
$1400 due ten months ago	In full	Today	2.9%

The equivalent replacement payment is $___

6. A loan of $3240 can be repaid in 110 days by paying the principle sum borrowed plus $90 Interest. What was the rate of interest charged?

The interest rate is ___%

7. The annual Tennis Club membership fees of $1250 are due on June 12, 2018. Club management offers a reduction of membership fees of 16.9% p.a. to members who pay the dues by October 15, 2017. How much must a member pay on October 15, 2017, if she chooses to take advantage of the club management's offer?

She must pay $____ ( rounded to nearest cent. Two decimal places)