What annual simple rate of interest did he pay

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Question 1

Ivan wants to end up with $ 27,700 in his investment account in 6 years time . If the account is expected to earn j4 = 4.40 % , how much should he deposit into the account today in order to realize his goal?

Question 2

How long will it take for $ 2,700 to earn $ 900 interest if it is invested in an account that pays simple interest of 7.75 % per year? Express your answer in years to 2 decimal places.

Question 3

Spencer paid interest of $ 45 on a 60 - day loan of 1,190 . What annual simple rate of interest did he pay?

Question 4

Suncor issued 90 - day commercial paper with a face value of $ 25,000 . What price would an investor pay for the paper if they desired a 4.05 % simple rate of return per annum?

Reference no: EM133070829

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