Question 1

Determine the deposit that must be made to earn $85 in 7 months at 10.5%.

Accepted Answer

I = $85; r = 0.105; t =  P =  =  = $1387.76

Question 2

What principal will earn $77.14 interest at 6.65% p.a. for 182 days?

Accepted Answer

P =  =  = 2326.37

Question 3

What principal will earn $219.89 interest at 11.25% p.a. from November 16, 2013 to February 7, 2014?

Accepted Answer

I = 219.89; r = 0.1125
Time period November 16, 2013, to February 7, 2014 = 14 + 31 + 31 + 7 = 83 days
P =  = $8595.43

Question 4

Compute the amount of interest on $250.00 at 8.25% p.a. from March 30, 2014 to October 28, 2014.

Accepted Answer

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Question 5

Determine the exact time between January 30, 2014 and May 20, 2014 by counting days.

Accepted Answer

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Question 6

Determine the date represented by 100 days after March 1, 2012.

Accepted Answer

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Question 7

If Inez is charged an interest of $42.95 on a loan of $950.00 for seven months, calculate the rate of interest charged on the loan.

Accepted Answer

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Question 8

Calculate the amount of interest that will be charged on $7000.00 borrowed for five months at 5.5%.

Accepted Answer

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Question 9

Determine the exact time between January 20, 2012 and May 10, 2012 by counting days.

Accepted Answer

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Question 10

A bank pays an interest of 4.5% for a three month term deposit. Calculate the amount that Stacy must invest to earn an interest of $100.00.

Accepted Answer

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Question 11

Determine the deposit that must be made to earn $49.27 in 325 days at 6%.

Accepted Answer

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Question 12

Compute the amount of interest for $500.00 at 8.75% from June 30 to December 31.

Accepted Answer

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Question 13

Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at 9.0%.

Accepted Answer

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Question 14

What principal will earn $59.99 interest at 7.75% p.a. from February 4, 2014 to July 17, 2014?

Accepted Answer

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Question 15

Alex borrowed $7500 to buy a car. If interest is charged on a loan at 8.5%, how much interest would he have to pay in 120 days.

Accepted Answer

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Question 16

Compute the amount of interest for $679.43 at 6.25% from May 11 to January 20.

Accepted Answer

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Question 17

Determine the exact time between January 21, 2014 and September 13, 2014 by counting days.

Accepted Answer

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Question 18

Compute the amount of interest on $875.00 at 11.5% p.a. from May 29, 2013 to August 13, 2013.

Accepted Answer

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Question 19

Find the amount of interest on $635.00 at 6.5% p.a. from October 2, 2015 to August 4, 2016.

Accepted Answer

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Question 20

What principal will earn $67.52 at 6.75% in 158 days?

Accepted Answer

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Quiz 7: Simple Interest