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    Cases For review-SIMPLE INTEREST

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    Rogers Buzaile
    This document contains 6 questions regarding simple interest calculations: 1) Find the ordinary and exact simple interest on a $1,500 loan at 14.5% for 60 days. 2) Find the rate of interest that will give $72 interest on $1,200 in 6 months. 3) Determine the principal amount borrowed if $850 pays back the principal and interest at 9.75% on an 8 day loan. 4) Calculate the discounted value of $1,000 due in 3 months at an 11% rate. 5) Find the value of a $1,500 obligation due in 6 months at 11% interest after 3 and 12 months at 15% simple interest

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    Cases For review-SIMPLE INTEREST

    Uploaded by

    Rogers Buzaile
    18 views1 page
    This document contains 6 questions regarding simple interest calculations: 1) Find the ordinary and exact simple interest on a $1,500 loan at 14.5% for 60 days. 2) Find the rate of interest that will give $72 interest on $1,200 in 6 months. 3) Determine the principal amount borrowed if $850 pays back the principal and interest at 9.75% on an 8 day loan. 4) Calculate the discounted value of $1,000 due in 3 months at an 11% rate. 5) Find the value of a $1,500 obligation due in 6 months at 11% interest after 3 and 12 months at 15% simple interest

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    Cases for review-SIMPLE INTEREST

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    This document contains 6 questions regarding simple interest calculations: 1) Find the ordinary and exact simple interest on a $1,500 loan at 14.5% for 60 days. 2) Find the rate of interest that will give $72 interest on $1,200 in 6 months. 3) Determine the principal amount borrowed if $850 pays back the principal and interest at 9.75% on an 8 day loan. 4) Calculate the discounted value of $1,000 due in 3 months at an 11% rate. 5) Find the value of a $1,500 obligation due in 6 months at 11% interest after 3 and 12 months at 15% simple interest

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    18 views1 page

    Cases For review-SIMPLE INTEREST

    Uploaded by

    Rogers Buzaile
    This document contains 6 questions regarding simple interest calculations: 1) Find the ordinary and exact simple interest on a $1,500 loan at 14.5% for 60 days. 2) Find the rate of interest that will give $72 interest on $1,200 in 6 months. 3) Determine the principal amount borrowed if $850 pays back the principal and interest at 9.75% on an 8 day loan. 4) Calculate the discounted value of $1,000 due in 3 months at an 11% rate. 5) Find the value of a $1,500 obligation due in 6 months at 11% interest after 3 and 12 months at 15% simple interest

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    SPU07410

    BSP II & BIR II 2019/2020

    8th to 14th June 2020

    Questions for review (Simple interest)

    1. Find (a) the ordinary and (b) the exact simple interest, on a 60-day

    loan of $1,500 at 14.5%

    2. At what rate of simple interest will $1,200 accumulate interest of

    $72 in 6 months?

    3. Eight days after borrowing money, a person pays back exactly $850.

    How much was borrowed if the $850 payment includes principal and

    simple interest at 9.75%?

    4. Find the discounted value of $1,000 due in 3 months if the rate is

    11%.

    5. An obligation of $1500 is due in 6 months with interest at 11%. At

    15% simple interest, find the value of the obligation (a) at the end of

    3 months, (b) at the end of 12 months.

    6. Mr. James owes Tsh. 5,000,000 due in 3 months and Tsh.

    10,000,000 due in 10 months. What single payment (a) now, (b) in

    6 months, (c) in 1 year, will liquidate these obligations if money

    worth 18%?

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