Reference no: EM131397048
1) Sandra borrows a certain amount of money from Louise. After 57 months, Sandra repays Louise a total of $5995. The loan had an annual simple interest rate of 6.6%.
Of the total amount that Sandra repaid to Louise, what percent was interest?
2) Frank borrows $1389 from Samantha for 48 months. If Samantha wants Frank to repay a total of 5% more than what he borrowed, what annual simple interest rate should she charge him?
3) Matt borrows $7047 from Brian for 58 months. The loan had an annual simple discount rate of 7.5%.
Of the total amount that Matt repaid to Brian, what percent were the proceeds?
4) Will borrows a certain amount of money from Sean. After 155 days, Will repays a total of $1569. The annual simple discount rate on this loan is 7%.
Alena borrows a certain amount of money from Rosanne. After for 159 days, Alena repays a total of $1630.
If the proceeds on both loans are the same, what annual simple discount rate is Rosanne charging Alena?
5) Roger borrows $4381 from Francine for 54 months. If Francine wants Roger to repay 52% more than what he borrowed, what annual simple discount rate should she charge him?
6) For what term (in months) is an annual simple interest rate of 12.6% is equivalent an annual simple discount rate of 7.0%?
7) Bank A offers an annual simple interest rate of 7.2%. Bank B offers an annual simple discount rate of 5.4%.
Suppose I want to deposit $10970. Assuming I choose the bank in which my money grows more, how much money will be in my account after 4 years?
8) Jared buys a $5403 par value bond with monthly interest payments. If the bond's coupon rate is 4.1% and the current yield is 6.5%, how much did Jared spend on the bond?
9) Karen spends $9006 on a bond with monthly interest payments. If the bond's coupon rate is 6.3% and the current yield is 5.2%, what is the bond's par value?
10) Pat purchases a $9878 par value bond for $10879. If the coupon rate is 7.9% and interest payments are made monthly, what is Pat's current yield?
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