Questions from Business Mathematics


Q: Express decimal and percent equivalent forms to five-figure accuracy.

Express decimal and percent equivalent forms to five-figure accuracy.

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Q: Morgan loaned $3100 to Rolf at a simple interest rate of

Morgan loaned $3100 to Rolf at a simple interest rate of 0.65% per month. What was the term of the loan if the total interest came to $221.65?

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Q: Asher cashed in a one-year term deposit after only five

Asher cashed in a one-year term deposit after only five months had elapsed. In order to do so, he accepted an interest rate penalty—a reduction from the scheduled 5.5% rate of simple interest. If he w...

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Q: Sumer put $10,000 in a three-month term

Sumer put $10,000 in a three-month term deposit at TD Canada Trust, earning a simple interest rate of 2.2%. After the three months, she invested the entire amount of the principal and interest from th...

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Q: Sergon has $5000 to invest for six months. The rates

Sergon has $5000 to invest for six months. The rates offered on three-month and six-month term deposits at his bank are 5.5% and 5.8%, respectively. He is trying to choose between the six-month term d...

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Q: Montel loaned $6800 to a friend for 13 months at an

Montel loaned $6800 to a friend for 13 months at an annual rate of 7.7% simple interest. How much interest did the borrower owe?

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Q: A $25,000 investment earned 0.25% per

A $25,000 investment earned 0.25% per month simple interest for a three-month term. What total amount of interest was earned?

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Q: What was the term of a $4850 loan at 4.

What was the term of a $4850 loan at 4.5% if the interest due at the end was $145.50?

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Q: The interest paid at the end of the term of a $

The interest paid at the end of the term of a $9125 loan at 0.8% per month was $511.00. Calculate the term of the loan.

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Q: The interest paid on an 11-month loan at 10 1

The interest paid on an 11-month loan at 10 1 4 % was $328.85. What was the principal amount of the original loan?

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