Finance HW 1
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by Todd Scarlett
| 12 Questions
Note from the author:
Simple and Compound interest, including effective rates
1
1 pt
FInd the maturity value of a simple interest loan of $400 at 2.1% for 9 years
A $475.59
B $475.60
C $336.42
D $336.41
2
1 pt
Find the accumulated amount of an investment of $413.99 compounded quarterly at 4.25% for 8.5 years
A $12,823.35
B 2.02481E13
C $593.00
D $8,110.99
3
1 pt
Find the accumulated amount of an investment of $150 at simple interest rate of 1.5% for 7 months
A $165.75
B $1725.01
C $281.25
D $151.31
4
1 pt
Find the principal if the accumulated amount is $8499.81 after 3 years compounded monthly at r = 2%
A $8005.18
B $8005.20
C $8005.22
D $8005.24
5
1 pt
Find the effective rate if the nominal rate is 3.5% compounded weekly
A 3.56%
B 2.86%
C 1.03%
D 1.05%
6
1 pt
Find the simple interest rate if $500 accumulated to $683.70 for an 11 year term
A 3.34%
B 1.97%
C 2.9%
D 2.77%
7
1 pt
How long would it take $120 to double at a simple interest rate of 3%?
A About 40 years
B About 33 years
C About 5 years
D About 14 years
8
1 pt
Find time of a compounded investment if A = 262.94, P = 190.00, r = 2.2%, and m = 5
A t = 66
B t = 13.2
C t = 74
D t = 14.8
9
1 pt
Find A if P = $8000, r = 0.9%, t = 11 months, and m = 2.
A $8830.57
B $15,809.98
C $8066.12
D $13,919.19
10
1 pt
Find the prinicipal of a simple interest loan if A = $831.44, r = 0.4%, and time is 9 1/2 years
A $602
B $863
C $801
D $828
11
1 pt
FInd the effective rate if the nominal rate is 4.1% compounded daily
A 4.12%
B 4.13%
C 4.14%
D 4.15%
12
1 pt
Find time if A = $884.94, P = $750, compounded monthly at 2.3%
A About 9.1 years
B About 7.2 years
C About 6.5 years
D About 10.1 years
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