Reference no: EM131382036
1. William borrows $6491 from the bank at an annual simple interest rate of 5.3%. After 4 years, he repays his debt. How much does he repay?
Round your answer to the nearest dollar (whole number).
2. Maggie deposits a certain amount of money in a bank account. After 12 months, she has $6496 in the account. If the account has an annual simple interest rate of 6.8%, how much did she deposit?
Round your answer to the nearest penny (hundredth place).
3. Jacob loans Emma a certain amount of money. After 2 years, Emma repays Jacob $1767. If the loan's annual simple interest rate is 3%, what us the loan's interest?
Round your answer to the nearest dollar (whole number).
4. A simple discount loan has a maturity value of $2793 and a term of 4 years. If the annual simple discount rate is 14%, find the proceeds of the loan.
Round your answer to the nearest penny (hundredth place).
5. A simple discount loan has a discount of $78. The proceeds are $671, and has a term of 481 days. Compute the annual simple discount rate.
Round your answer to the nearest tenth of a percent.
6. A simple discount loan has a maturity value of $5517 and an annual simple discount rate of 9.1%. If the loan's proceeds are $4891, find the term of the loan in weeks.
Round your answer to the nearest tenth of a week.
7. The proceeds of a simple discount loan are $3837 and the annual simple discount rate is 7.6%. If the term of the loan is 2 months, find the maturity value.
Round your answer to the nearest dollar (whole number).
8. The proceeds of a simple discount loan are $4118 and the annual simple discount rate is 16%. If the term of the loan is 27 weeks, find the discount value.
Round your answer to the nearest dollar (whole number).
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: 1. William borrows $6491 from the bank at an annual simple interest rate of 5.3%. After 4 years, he repays his debt. How much does he repay?
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