SOLUTION: Please help with the homework below. 1. Ben owes R500 due in eight months. For each of the following cases, what single payment will repay his dept if simple interest rate is 15%

Algebra ->  Finance -> SOLUTION: Please help with the homework below. 1. Ben owes R500 due in eight months. For each of the following cases, what single payment will repay his dept if simple interest rate is 15%       Log On


   

Question 1193552: Please help with the homework below.
1. Ben owes R500 due in eight months. For each of the following cases, what single payment will repay his dept if simple interest rate is 15% p.a,?
1.1 Now
1.2 Six months from now
1.3 in one year
2. A promissory note dated 1 April 2021 for 1500, borrowed at a simple discount rate of 16% p.a.due on the 1 October 2021 is sold on the 1 July 2021.
2.1 what is the maturity value of the note?
2.2. what is it's the present value on the date of sale?
3.calculate the accrued principal on 3000 invested at 12% per annum for three years and compound monthly.
4. How much must be invested at 16% per annum if interest is compounded quarterly,to yield 10000 in two and half years?
5. What is the rate of interest if 4000 yields 6000 in three years and interest is compounded monthly
Answer by ikleyn(53937) About Me  (Show Source):
You can put this solution on YOUR website!
.

Too many questions for one post.


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