WorksheetsInterest & Credit - MAT 213
Total questions: 5
Worksheet time: 3mins
Find the simple interest paid to borrow $4000 for 3.5 years at 8%.
$112
$112000
$11200
$1120
Maria took out a simple interest loan for $425 with an interest rate of 2.25% and must repay it in 6 months. Find the future value of the loan. Round to the nearest cent.
$429.78
$4.78
$482.38
$57.38
Calculate the compound interest compounded weekly and semi-annually and round to the nearest cent: (Select the two correct answers)
Investment of $1000 with an interest rate of 6% invested for 12 years.
$2053.58
$2050.75
$2032.79
$2054.31
Find the effective annual yield of an account paying a nominal rate of 3.00% compounded monthly. Your percent answer should have two decimal places.
3.00%
3.04%
3.1%
3.05%
Luis buys $8000 worth of furniture for her new home. She pays $2000 down and agrees to pay the balance at a 4% add-on rate for 2 years. Find the monthly payment.
$3240
$6480
$270
$540
