Financial Math

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Simple Interest Problems (8 mathcasts)

 

1.Calculate the simple interest earned in 1 year on a deposit of $1,000 if the interest rate is 7%.  -- Mathcast
2.Calculate the simple interest due on a 2-month loan of $2,000 if the interest rate is 5%  -- Mathcast
3.The ordinary method for converting time from days to years is to use an average of ____ days in a month and 12 months in a year. -- Mathcast
4.The exact method for converting time from days to years is to use ____ days in a year. -- Mathcast
5.Calculate the simple interest due on a 60-day loan of $9,000 if the annual interest rate is 7%. -- Mathcast
6.The simple interest charged on a 5-month loan of $2,000 is $58.33.  Find the simple interest rate. -- Mathcast
7.Calculate the maturity value of a simple interest, 9-month loan of $2,000 if the interest rate is 8%.  -- Mathcast
8.Calculate the maturity value using A = P(1 + rt) for a simple interest 9-month loan of $4,000.  The interest rate is 6.75%. -- Mathcast

 

 

Compound Interest Problems (5 mathcasts)

 

1.You deposit $2,500 in an account earning 9% interest compounded semiannually (i.e, twice a year).  How much do you have in the account at the end of 1 year?  -- Mathcast
2.You deposit $1,000 in an account earning 8% interest compounded semiannually (i.e, twice a year).  How much do you have in the account at the end of 1 year?  -- Mathcast
3.Calculate the compound amount when $500 is deposited in an account earning 8% interest, compounded semiannually, for 7 years.  -- Mathcast
4.Calculate the compound amount when $1,000 is deposited in an account earning 5% interest, compounded daily, for 3 years.  -- Mathcast
5.How much money should be invested in an account that earns 8% interest, compounded quarterly, in order to have $14,000 in 8 years?  -- Mathcast

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