Questions from Business Mathematics

Q: On June 26, 2019, $1000 was borrowed at an

On June 26, 2019, $1000 was borrowed at an interest rate of 4.55%. On what date was the loan repaid if the amount of accrued interest was $11.47?

Q: $1000 was invested on April 18, 2019, in a

$1000 was invested on April 18, 2019, in a GIC earning 7.7% per annum. On its maturity date, the certificate paid $32.28 interest. On what date did it mature?

Q: Round it to four-figure accuracy. 11.3845

Round it to four-figure accuracy. 11.3845

Q: On what date was a $1000 loan granted if the interest

On what date was a $1000 loan granted if the interest accrued as of November 16, 2019, was $50.05? The interest rate on the loan was 7 1 4 % .

Q: The $1000 principal amount of a loan was repaid on March

The $1000 principal amount of a loan was repaid on March 13, 2019, along with accrued interest in the amount of $49.42. If the interest rate on the loan was 11%, on what date was the loan advanced?

Q: Bruce borrowed $6000 from Darryl on November 23. When Bruce

Bruce borrowed $6000 from Darryl on November 23. When Bruce repaid the loan, Darryl charged $127.60 interest. If the rate of simple interest on the loan was 6 3 4 % , on what date did Bruce repay the...

Q: How much interest accrued from November 30, 2018, to March

How much interest accrued from November 30, 2018, to March 4, 2019, on a $7350 loan at 7.5%?

Q: Sharon’s $9000 term deposit matured on March 16, 2019.

Sharon’s $9000 term deposit matured on March 16, 2019. Based on a simple interest rate of 3.75%, she received $110.96 in interest. On what date did she originally make the term deposit?

Q: Mario borrowed $6000 on March 1 at a variable rate of

Mario borrowed $6000 on March 1 at a variable rate of interest. The interest rate began at 7.5%, increased to 8% effective April 17, and then fell by 0.25% effective June 30. How much interest will be...

Q: Penny invested $4500 on October 28 at a floating rate of

Penny invested $4500 on October 28 at a floating rate of interest that initially stood at 6.3%. Effective December 2, the rate dropped by 1 2 % , and then it declined another 1 4 % effective February...