Interest, deposits and loan math - practice problems
Direction: Solve each problem carefully and show your solution in each item.Number of problems found: 105
- Simple interest
At what time will the sum be doubled at 5% per annum at simple interest? - Compound continuously
Find the balance in the account after 10 years. P= $1900; r= 6% Compound continuously. - The value
The value of the property decreases every year at the rate of 5%. If its present value is 411540 USD, what was its value three years ago? - A sum 6
A sum at simple interest of 4% per annum amounts to 3120 USD in 5 years. Find the sum.
- Stocks and bonds Mr. Cash invested $80000 in various stocks and bonds. He earned a 7% dividend on his stocks and 5% interest on his bonds, for a one year profit (both stocks and bonds) of $4,900. How much did Mr. cash invest in bonds?
- Daily compounded Zachary invested $130 in an account paying an interest rate of 3.6% compounded daily, Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 11 years?
- Compound vs simple interest Calculate the difference between compound interest and simple interest in USD 7500 in two years at 8% per annum.
- Per annum At a certain time, a sum becomes 4 times at the rate of 5% per annum. At what rate of simple interest the same sum becomes 8 times in the same duration
- Person A,B Person A takes 3000 USD from person B for 2 yrs at the rate of 10% half yearly interest. What amount will be paid by person A to B after the end 2 yr?
- Johnny 3
Johnny has $46,754 in a savings account that earns 14% annually. The interest is not compounded. To the nearest dollar, how much interest will he earn in 3 years? - Value of the note A 10-month promissory note issued on March 21, 2021, bearing interest of 7.2% p.a., has a maturity value of $4128.02. Find the face value of the note.
- 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?
- 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.
- 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?
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