Money + exponentiation - practice problems
Number of problems found: 43
- Compound interest
Joel borrowed $3208.5 on November 2, 2021, at 3.6% p.a. How many days would it take for him to repay the loan if he made a payment of $ 3,720.34? Round up to the nearest day. - The sum 41
The sum of 640.00 was deposited in the first bank for five years, and the interest given was 160.00. Find the rate. - The balance 2
If your balance at the end of 4 years is 50000, at a 5% interest rate, What was your original investment? - Years 3
How long will it take for a given sum of money to triple itself at 20% annual compound interest? - A man 12
A man in his will shared his money geometrically among his six sons, so the eldest son received ; 5,589 and the youngest son received ; 736. (A)How much will the fourth son receive? (B)How much was shared among them - A company 2
A company invests 51000. After 4 years of growth at the same rate each year, the investment is worth 68920. Find the annual growth rate as a percentage. - Simple interest 5
At what simple interest rate should Renel invest his P45,000 so that it earns P5,500 in 1 year and 5 months? - Written 81992
8% of the price of the machine is written off every year. In how many years will the price drop from 250,000 to 150,000? - A vendor 3
A vendor borrowed PHP 150,000 from their cooperative. The rate of interest was 11.5% a year. How much interest does he pay to the bank at the end of one year? - Mr. Erel
Mr. Erel earns 12% compounded quarterly. He projected to collect Ᵽ500,000 after ten years. What is the amount he needs to invest? - Deposit for house
The current house price is $300000, with prices increasing by 3% yearly. A buyer wishes to purchase the house in 5 years. The bank requires a 10%deposit on the price of the house in order to grant a loan. How much would the buyer need to deposit each quar - Mr. Cruz
Mr. Cruz borrowed 21,600 euros for three years at 16 2⁄3% compounded annually. At the same time, Mr. Santos borrowed the same Amount at Simple Interest for the same period and at the same interest rate. Who Pays more and how much? - Compounded monthly
Find the compound amount if Php 150,000.00 is deposited in a bank paying 9% p.a. compounded monthly for three years. - MP3 player
Mary plans to buy a new MP3 player for 90 USD. And every month, the amount he saved in the previous month doubles. If she saves 3 USD in the first month, how many months will Mary save enough to buy an MP3 player? - Wendy
Wendy deposits R6500 into an account, paying 8% annual interest compounded monthly. How much money will be in her account after 84 months of paying 8% annual interest compounded continuously? - Interest compounded annually
If you deposit $4500 at 5% annual interest compounded annually, how much money will be in the account after ten years? - Dream home
You finally found your dream home. It sells for $120,000 and can be purchased by paying 10% down and financing the balance at an annual rate of 9.6% compounded monthly. a) How much are your payments if you pay monthly for 30 years? b) Determine how much w - Retirement saving
Deryl wishes to save money to provide for his retirement. Beginning one year from now, he will begin depositing the same fixed amount each year for the next 30 years into a retirement savings account. Starting one year after making his last deposit, he wi - Salary increase 2
Each year, Francesca earns a salary 2 percent higher than her previous year's salary. In her first five years at this job, she earned a total of $187,345. What was Francesca's salary in her 1st year at this job? - Monthly payments 2
Suppose you have selected a new car to purchase for $19,500. If we can finance the car over four years at an annual rate of 6.9% compounded monthly, how much will your monthly payments be?
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