1-Find the interest paid on a loan of $2,400 for two years at a simple interest rate...

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Question:

1-Find the interest paid on a loan of $2,400 for two years at a simple interest rate of 10% per year.

2-Find the maturity value of a loan of $600 after three years. The loan carries a simple interest rate of 9 1/4% per year.

3-Find the maturity value of a loan of $2,400.00 after three years. The loan carries a simple interest rate of 7.5% per year.

4-A man took out a $46,000 construction loan to remodel a house. The loan rate is 8.4% simple interest per year to be repaid in nine months. How much is paid back?

5-A man needed money to buy lawn equipment. He borrowed $700.00 for five months and paid $53.95 in interest. What was the rate of interest?

6-Mr. Smith borrowed $28,000 to purchase stock for his baseball card shop. He repaid the simple interest loan aftertwo years. He paid interest of $6,820. What was the interest rate?

7-Find the exact interest on a loan of $32,600 at 7% annually for 30 days.

8-Find the exact interest on a loan of $7,000 at 8% annually for 70 days.

9-A loan for $2,500 with a simple annual interest rate of 9% was made on November 11 and was due on January 27. Find the ordinary interest.

10-Find the adjusted balance due at maturity for a 90 day note of $18,000 at 13.9% ordinary interest if a partial payment of

$6,000 is made on the 60th day of the loan.

11-A man makes a simple discount note with a face value of $2,300, a term of 140 days, and a 9% discount rate. Find the discount. (Use the banker's rule.)

12-Find the discount and proceeds on a $3,260 face-value note for three months if the discount rate is 9.5%. (Use the banker's rule.)

13-A man has a simple discount note for $6,200, at an ordinary bank discount rate of 8.72%, for 50 days. What is the effective interest rate? Round to the nearest tenth of a percent. (Use the banker's rule.)

14- Shanquayle Jenkins needs to calculate the effective interest rate of a simple discount note for $23,000, at an ordinary bank discount rate of 7.75%, for 90 days. Find the effective rate.

15-A man holds a note of $6,000 that has an interest rate of 13% annually. The note was made on March 16 and is due November 13. He sells the note to a bank on June 11 at a discount rate of 12% annually. Find the proceeds on the third-party discount note. (Use the banker's rule.)