What was the amount of interest charged on a loan

Reference no: EM132802238

Problem 1: Shane loaned $350,000 to a small business at 6.25% compounded semi-annually for 3 year and 2 months.

a. How much would the business have to repay Shane at the end of the period?

b. How much interest did Shane earn from this investment?

Problem 2: If the population of Canada was estimated to be 37,417,486 in September 2019 and the population of Ontario was estimated to be 3612% of Canada's population, calculate the population of Ontario, rounded up to the next whole number.

Problem 3: If a current fixed mortgage rate of 5.3% rises to 6.7%, calculate the percent increase in the mortgage rate.

Problem 4: What was the amount of interest charged on a loan of $12,500 received on January 16, 2019 and settled on April 24, 2019 if the interest rate on the loan was 5.25% p.a.?

Problem 5: The accumulated value of a mutual fund is $23,378.30 and the interest earned is $7,378.30. If it was growing at 5.75% compounded semi-annually, what is the time period of this investment?

Problem 6: Crystal invested $550 in her savings account for a period of six months. If the savings account was offering her a simple interest rate of 1.60% p.m. , calculate

a. The maturity amount of her investment.

b. The interest she earned at the end of the time period.

Reference no: EM132802238

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