A loan made on May 12 must be repaid on December 18. Find the principal given that the rate is 9% and the interest at maturity is $1,551.

 

A loan of $37,000 made on February 4 results in interest of $770.83. If the loan is due on May 15, find the rate to the nearest tenth of a percent.

Question 2 options:

 

Find the principal given a rate of 7 3/4 %, and interest of $271.25, and a due date of 90 days.

 

Find the rate given a principal of $7,600, a due date of 200 days, and an interest of $498.22.

 

Tom needs to borrow $28,000 to remodel his bookstore. He borrows the funds for 10 months at an interest rate of 9.25%. Find the maturity value at the end of 10 months.

  

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