Business Mathematics

Exercise on Simple and Compound Interest $-40\%$

Questions $1,2$ & $3$: Simple Interest Calculations. Questions $4$ and $5$: Compound Interest calculations. Full Score $100\%$

Each questions are worth $20$ point. Please answer all the questions.

Calculate the amount of interest that will be charged on $$8,500\mathrm{.}00$ principal borrowed for $6$ months at $5\mathrm{.}25\%$ interest rate.

Determine the principal that must be invested to earn $$52\mathrm{.}96$ interest in $240$ days at $7\mathrm{.}3\%.$

If Inez is charged an interest of $$42\mathrm{.}95$ on a loan $($principal$)$ of $$950\mathrm{.}00$ for seven months, calculate the rate of interest charged on the loan.

A debt $($present value$)$ of $$8,000$ is payable in $7$ years and $5$ months. Determine the future value of the debt at $10\mathrm{.}8\%$ compounded annually.

Determine the present value that will grow to a future value of $$1,250$ in five years at $10\%$ interest compounded quarterly.