Business Mathematics Study Set 1

Mathematics

Quiz 6 :

Simple Interest

Quiz 6 :

Simple Interest

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A principal of $2,680 is invested for 2.5 years at a rate of 12%. What amount of interest will be earned?
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E

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A $10,000 90-day term deposit earns 4.5% interest. How much will the depositor have at maturity?
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B

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A principal of $790 grew to $1,000 in 14 months. What annual rate of simple interest was earned?
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E

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How much interest could you earn over 7 months on an investment of $49,000 at 14.75%?
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How much must be placed in a two-month term deposit earning 4.8% in order to earn $275 interest?
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A deposit of $659 earns $15.10 interest at a rate of 4.5%. For how many days was this money on deposit?
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Calculate the amount of interest that would be earned on an account of $59,500 at 7.2% for 133 days.
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Calculate the amount of interest that would be earned on an account of $47,500 if it earned 6.4% for 293 days.
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Calculate the amount of interest that would be earned on an account of $216,000 if it earned 5.15% for 27 days.
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A 9-month term deposit, earning interest at 7%, was worth $72,559 when it reached maturity today. How much had been invested at the beginning of the term?
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How much interest will be earned on $8,000 over a period of four months if the interest rate is 6.5%?
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Calculate the amount of interest that would be earned on an account of $344,000 if it earned 4.95% for 37 days.
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Determine the amount of (simple) interest that would be earned over eight months at 26% on an investment of $43,500.
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If $450,000 is invested on June 3 at 7.75%, what will be the value of the investment on December 11?
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How much interest could you earn over 2 months on an investment of $82,500 at 23.5%?
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After how many days will a loan of $888 at 15% amount to $1554 (including accrued interest)?
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How much interest could you earn, over 5 months on an investment of $94,000 at 17.75%?
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What principal will grow to $12,031.25 at 7.5% interest in 15 months?
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In how many months will $6,000 earn interest of $2,700 at 15%?
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How many days would it take for an investment of $9,000 to grow to $10,000 at 17%?
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