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Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year.

 

 

$160.00

 

 

$14.00 

 

 

$140.00

 

 

$2140.00 

 

10 points   

QUESTION 2

 

Find the interest paid on a loan of $3946 for 5 months at a simple interest rate of 12% per year. 

 

 

$236.76

 

 

$198.96 

 

 

$157.84 

 

 

$197.30 

 

10 points   

QUESTION 3

 

How much interest will have to be paid on a loan of $10,138 for 7 months at a simple interest rate of 13.3% per year? 

 

 

$786.54

 

 

$793.15 

 

 

$674.18

 

 

$898.90 

 

10 points   

QUESTION 4

 

How much interest will have to be paid on a loan of $50,967 for 23 months at a simple interest rate of 10.6% per year?  

 

 

$10,441.81

 

 

$10,354.80

 

 

$10,805.00

 

 

$9904.59 

 

10 points   

QUESTION 5

 

Find the interest paid on a loan of $5410 at 7% annual simple interest for 2.4 years. 

 

 

$908.88

 

 

$478.36

 

 

$1287.58

 

 

$871.01 

 

10 points   

QUESTION 6

 

Find the interest paid on a loan of $69,750 at 9% annual simple interest for 2.7 years. 

 

 

$16,321.50

 

 

$8920.66

 

 

$23,226.75

 

 

$16,949.25

 

10 points   

QUESTION 7

 

Find the maturity value of a loan of $6787 after 4 months. The loan carries a simple interest rate of 14% per year. 

 

 

$7106.39

 

 

$7103.73 

 

 

$7024.55

 

 

$7182.91

 

10 points   

QUESTION 8

 

Find the maturity value of a loan of $13,942 after 8 months. The loan carries a simple interest rate of 11.9% per year. 

 

 

$15,048.07

 

 

$14,909.81 

 

 

$15,186.32 

 

 

$15,057.36 

 

10 points   

QUESTION 9

 

Find the maturity value of a loan of $49,583 after 18 months. The loan carries a simple interest rate of 8.3% per year. 

 

 

$56,099.03 

 

 

$55,807.96 

 

 

$55,413.13 

 

 

$55,756.08 

 

10 points   

QUESTION 10

 

Find the total amount of money (maturity value) that the borrower will pay back on a loan of $3429 at 14% annual simple interest for 2.8 years. 

 

 

$4725.16 

 

 

$4136.46 

 

 

$4773.17 

 

 

$5253.23 

 

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