What is the total amount of interest collected

Assignment Help Business Economics

Reference no: EM131098877

1. What is the total amount of interest collected from a $5,000 loan after three years with a simple interest rate of 6%?

2. If you receive $500 in simple interest on a loan that you made for $10,000 for 5 years, what was the interest rate you charged?

3. You open a 5-year CD for $1,000 that pays 2% interest, compounded annually. What is the value of that CD at the end of the 5 years?

Reference no: EM131098877

Questions Cloud

Selling tomatoes in purely competitive market : Tomato Farms is selling tomatoes in a purely competitive market. Its output is 5000 bushels, which sell for $15 a bushel. At this level of output, the marginal cost is $15 a bushel and average total cost is $14.50 a bushel. Should the firm increase o..

Explain why the aggregate quantity demanded of goods : Which of the following helps explain why the aggregate quantity demanded of goods and services is inversely related to prices within the framework of the AD/AS model?

The influences of culture and gender on negotiations : Discuss two of the following statement. Assume the role of one of the five parties in the GLOBE Project Study case as you form your answers. Respond to at least two of your classmates’ postings.

What are the differences between wholesaler and retailer : What are the differences between a wholesaler and a retailer? Discuss some of the services that wholesalers provide. Why do you think that Sam's Wholesale CLub had to change their name to Sam's Club and no longer be considered a Wholesale company?

What is the total amount of interest collected : What is the total amount of interest collected from a $5,000 loan after three years with a simple interest rate of 6%? If you receive $500 in simple interest on a loan that you made for $10,000 for 5 years, what was the interest rate you charged? You..

Why is the selection of the type of distribution critical : Why is the selection of the type of distribution critical to the success of the product and the company that is trying to sell it? What are some of the factors that need to be addressed when determining the optimal channels of distribution?

What effect will this increase have on canada economy : In 1982, 13 percent of 21 year olds were attending university. In 2004, 26 percent of 21 year olds were attending university. What effect will this increase have on Canada’s economy?

Changes in currency exchange ratea : Find the examples in current news publications similar to those in this chapter of the strategic responses of the individual businesses to changes in currency exchange ratea. are these first adapting to the changing international environmwnt, or Andr..

Government debt related to the government deficit : How is government debt related to the government deficit? What factors contribute to a large change in the debt-GDP ratio? Why do economists suggest that tax rates be kept roughly constant over time, rather than alternating between high and low level..

User Account

All Pages