In April 2024
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find the rate of interest compounded bimonthly of investment amounting to P18,000 which accumulates to P20,000 in 5 years
The print rate of shirt is Rs 350. There is discount of 20% on the print rate! What will this shirt cost to the customer?
A person gets an income of 28270 per year. He pays an income tax of 15% and also pays a penalty of 20% of the amount of income Tax Paid. How much amount is the person left with?
An amount of R4 317,26 was borrowed on 5 May at a simple interest rate of 15% per year. The loan will be worth R4 500 on ...
A.
16 August.
B.
12 August.
C.
21 August.
D.
9 Octobe
Deliwe inherits R600 000. She decides to have it paid to her in two payments: one payment four years from now and the second payment twice the size of the first payment, eight years from now. If money is worth 12,6% per year compounded quarterly, then the amount of money that Deliwe expects to receive eight years from now is .
A businessman buys R100 000 of equipment on the following terms:
Interest will be charged at a rate of 12% per year compounded semi-annually, but no payment will be made until two years after purchase. Thereafter equal semi-annual payments will be made for five years. The semi-annual payment is....
A. R22 343,83
B. R17 153,02
C. R29 970,75
D. R13 586,80
Mr. Akrong gave his two children Nii and Naa a total of GH¢ 900.00 as a
present. Nii immediately paid Naa GH¢ 75.00 to repay a loan. They then
found that Naa had twice as much as Nii. How much did each of them
receive from their father?
Patri borrows money from Zanele at a simple discount rate of 9.75% per annum. He must pay him R35 000 in 27 months' time. The amount of money that he receives from Zanele now is
CREDIT CARDS
1) How much interest is due on an unpaid credit card balance of $1047.28 at a rate of 21.25% for 27 days?
2) How much interest is due on an unpaid credit card balance of $2111.67 at a rate of 18.5% for 5 months?
3) Adam has an unpaid credit card balance of $765.43 that charges an interest rate of 19.75%. If his payment was due on September 23, how much interest will he owe on October 14? Hint: September has 30 days.
4) Debbie has an unpaid credit card balance of $568.93. Her credit card company charges 24% per year, counting each day that an amount is owed. If she did not pay anything on July 10, her due date, how much does she owe on her next statement date, August 2? July has 31 days.
5) Stuart has an unpaid credit card balance of $268.67. What is his minimum payment if his credit card company charges an interest rate of 18.25%, and Stuart must pay 3% or $25, whichever is greater?
SIMPLE INTEREST
Match each variable with a value by placing the correct letter on each line.
Variable Value
a) principal ____ 280 days
b) interest ____ 1.95%
c) interest rate ____ $2000
d) term ____ $29.92
e) Using the values above, calculate whether the interest earned is the correct amount.
f) What is the total value of this investment?
2) Calculate the amount of simple interest earned in each of the situations.
a) principal = $1500 interest rate = 2.5% term = 5 years
b) principal = $3245 interest rate = 7.5% term = 3 years
c) principal = $500 interest rate = 11% term = 9 years
3) Peter invested $1860 for 10 months at a rate of 3.8%. How much interest did he earn?
5) Mike invested $4040 for 3 years and earned $410. What interest rate was this invested at?
6) How many months does it take to earn $180 in interest on an investment of the principal is $5000 and the interest rate is 2%?
