Reference no: EM131397035
1. Candice borrows $4251 from Regina for 159 weeks. If the loan had an annual simple discount rate of 4.7%, how much did Candice repay (in total)?
2. Matt borrows $8137 from Brian for 49 months. The loan had an annual simple discount rate of 9.4%.
Of the total amount that Matt repaid to Brian, what percent were the proceeds?
3. Will borrows a certain amount of money from Sean. After 162 days, Will repays a total of $1579. The annual simple discount rate on this loan is 12%.
Alena borrows a certain amount of money from Rosanne. After for 144 days, Alena repays a total of $1700.
If the proceeds on both loans are the same, what annual simple discount rate is Rosanne charging Alena?
4. Roger borrows $1822 from Francine for 37 months. If Francine wants Roger to repay 55% more than what he borrowed, what annual simple discount rate should she charge him?
5. Bank A offers an annual simple interest rate of 5.3%. Bank B offers an annual simple discount rate of 5.9%.
Suppose I want to deposit $16122. Assuming I choose the bank in which my money grows more, how much money will be in my account after 4 years?
6. An annual simple discount rate of 3.3% is equivalent to what annual simple interest rate during a term of 205 weeks?
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: Matt borrows $8137 from Brian for 49 months. The loan had an annual simple discount rate of 9.4%. Of the total amount that Matt repaid to Brian, what percent were the proceeds?
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