Reference no: EM13911892
Question 1: 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
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
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
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
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
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
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
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
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
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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