home interest rates

The compound interest can easily be calculated by using the formulas. If P is the principal amount, r % is the rate of interest per annum and n is the total number of years(period..

Find the simple interest received by John, if he deposits $440 for a period of 3 years at an interest rate of 5%. => $67 or $65 or $68 or $66..

Find the simple interest on a principal of $430 for a period of 3 years at an interest rate of 3%. => $37.70 or $40.70 or $39.70 or $38.70..

Joe invested $7,400, part at an annual interest rate of 4% and the rest at 5%. He received a total annual interest of $350. How much did he invest at each rate? => $3,000, $7,435 or $4,050, $7,420 or $2,000, $5,400 or $3,025, $7,460..

Find the simple interest for 4 years at a rate of 2% on $4500. => $465 or $285 or $420 or $360..

Matt borrows $6000 and clears his debt by paying $7000 after 4 months. Find the rate of interest charged per annum. The problem can be solved by ________. => Using a matrix or Using a rational equation or Applying a formula or None of the above..

Jim deposits $300 in a savings account at an interest rate of 2% per year. Find the interest earned in 4 months. => $20 or $2 or $4 or $5..

An amount becomes $1500 in 3 years and $6000 in 4 years on compound interest. Find the rate of interest. => 4% or 3% or 2% or 5%..

Victor borrows $2700 from his friend to buy a car. The annual interest rate is 9.5%. How much interest should he pay his friend after one year? => $27 or $356.50 or $266.50 or $256.50..

Andrew invested $1800 in two parts, one at 14% interest and the other at 8% interest. His total income in one year was $240. How much did he invest at each rate? => 960, 1920 or 1600, 200 or 1550, 250 or 685.71, 200..