Simple Interest Questions Part 3

Dwayne

1)      $5250 is invested at 4% per annum for 6 years

a) What is the simple interest payable?

b) Find the amount accruing for the investment

 

2)      Timmy invested $1380 at 6% per annum for 8 years calculate

a)  The simple interest payable

b) The total amount of money Timmy collected at the end of the 8 year period

 

3)      a) Calculate the simple interest collected by a lending institution if $6750 is loaned for 4 years at 9% per annum

b) How much money did the borrower actually repay the lending institution?

c) What sum of money was paid monthly?

 

4)      A lady invested $14 700 for 6 years at 5 ½ % per annum

a) Determine the simple interest paid

b) Calculate the amount of money she collected after the period of 6 years

 

5)      Mr Carlos invested $17 750 in a credit union at 7.25 % per annum simple interest for 8 years

Calculate:

a) The interest he was paid

b) The total   amount of money he would have received at the end of the time of investment

 

6)      Miss Tiffany borrowed $9250 from an institution at 14.5 % per annum simple interest for 7 years

Find:

a)   The sum of money paid in interest to the institution

b)      The total amount of money repaid to the institution

c)  The value of each monthly installment

 

 

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