Use simple interest and compound interest separately for each question 1. The bank issued a loan of
Question:
（Use simple interest and compound interest separately for each question）
1. The bank issued a loan of UAH 1 million. for 9 months at a rate of 20 % per annum. Determine the amount that is repaid and the amount of interest on the loan.
2. Credit in the amount of 500 thousand UAH. It was taken on September 12, 2004 with a maturity of 10.06.2004 at the rate of 20% per annum. Determine the amount of interest on the loan.
3. Under the terms of the loan agreement, the rate of simple interest in the first month of the loan was 12%, and in each subsequent month increased by 3 points. Determine the amount of interest on the loan amount of UAH 800 thousand. taken for 9 months.
4. The bank issued a loan of UAH 10 million. For 3 years at a difficult annual rate of 60% per annum with a repayment of a one -time payment. Determine the amount that is repaid and the amount of interest on the loan.
5. The Bank issues long -term loans at a complex rate of 40% per annum. Determine the amount of interest for a loan of UAH 2 million, which is repaid in a one -time payment in 3.5 years.
6. The borrower intends to take a loan of 400 thousand UAH. With the expense of its amount 1 million UAH. The interest rate on loans is 19%. Determine how many days you can take a loan (estimated number of days per year 365).
Expert Answer:
1 Simple Interest The interest on the loan is calculated using the formula I P r t Where P principal amount UAH 1 million r rate of interest per annum 20 t time in years 912 years 075 years I 1000000 ... View the full answer
