Interest, deposits and loan math - practice problems
Direction: Solve each problem carefully and show your solution in each item.Number of problems found: 85
- A bank
A bank reported that x/12 more first time buyers took a mortgage out last month. If a quarter more mortgages were taken out, what number (x) is missing? - 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. - Years 3
How long will it take for a given sum of money to triple itself at 20% annual compound interest? - Borrowed 82069 You borrowed €2000 for 3 months. What amount must you pay back if the lender charges a 15% interest rate per annum?
- (interest 82063 We want to save €25,000. We deposit €3,000 annually, and the interest is 4.4% (interest tax is 19%). How many years do we have to save?
- Joy deposited Joy deposited the sum of 50,000 in her bank account. After 5 months, she made another deposit of 125,000 and 6 months a lap before the withdrawal of 12,000 nairas. If the interest rate is 5% per annual, calculate how much she should have in her account.
- Principal 82010 Calculate the interest rate if the principal amount of 500 is 5 euros in interest in 5 months.
- Interest 81982 The bank offers interest on the deposit of 4 percent per annum. In how many years will the deposit double?
- Borrower 81777 You lent €400. The borrower paid you €440 back in 5 months. What was the yield on this loan?
- Interest 81773 How much will the deposit grow at an interest rate of 10% p.d. a. for 72 days by €6?
- Bank deposits At the end of each quarter, Patti deposits $1,400 into an account that pays 10% interest compounded quarterly. How much will Patti have in the account in three years? Note: Use tables, Excel, or a financial calculator round your final answer to the neares
- 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?
- Interest 80867 How much is the deposit? Which at an interest rate of 3.75%p. a., will it increase by 25 euros in one year?
- 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?
- Interest 71474 I will deposit CZK 1,500 into my savings account every month. After ten years, what will be in the account if the interest rate is 4%, the interest period is one month, and the interest tax is 15%?
- An account
Seth has $9,399 in an account. The interest rate is 4 17/20% compounded annually. To the nearest cent, how much will he have in 2 years? - Percentage 69704
Katka had € 660 in the bank, for which she received interest of € 33 at the end of the year. What percentage was the interest?
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