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