Assignment 3 business maths 101

ASSIGNMENT 3 (TOTAL 30 MARKS) Compute the amount of interest on $835 at 7.5% p.a. from October 8, 2019, to August 4, 2020. (2 marks) 2. How many days will it take for $8500 to earn $689.72 at 8.25% p.a.? (2 marks) 3. What rate of interest is paid if the interest on a loan of $2500 is $96.06 from November 14, 2019, to May 20, 2020? (2 marks) 1. Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.5% p.a. and the focal date is 115 days from now? (4 marks) What principal will earn $55.99 interest at 9.75% p.a. from February 4, 2017, to July 6, 2017? (2 marks) 6. Determine the face value of a four-month promissory note dated May 20, 2018, with interest at 7.5% p.a. if the maturity value of the note is $1190.03. (2 marks) 7. Determine the compound discount on $8800 due in 7.5 years if interest is 9.6% compounded monthly. (2 marks) 8. Two debt payments, the first for $800 due today and the second for $600 due in nine months with interest at 10.5% compounded monthly, are to be settled by a payment of $800 six months from now and a final payment in 24 months. Determine the size of the final payment if money is now worth 9.5% compounded quarterly. (4 marks) 9. What is the present value of $5900 payable in 15 years if the current interest rate is 7.5% compounded semi-annually? (2 marks) 10. An investment with an original value of $11 000 is sold for proceeds of $12 950.00. If the investment yield was 5% compounded semi-annually, for how many years was the money invested? (2 marks) 11. An amount of $1400 was invested for 71 months, maturing to $2177.36. What annually compounded rate was earned? (2 marks) 12. Determine the effective annual rate of interest equivalent to 5.4% compounded monthly. (2 marks) 13. At what nominal rate of interest compounded semi-annually will $6900 earn $3000 interest in five years? (2 marks)