Simple Interest = Principle * rate * Time
Now, when the amount doubles,
Simple Interest = Principle
Simple Interest = Principle * rate * Time
1 = rate * Time
1 = Rate * 12
Rate = 1/12 = 8.33%
HW17: Problem 9 Previous Problem Problem List Next Problem (4 points) An investment pays simple interest,...
HW17: Problem 7 Next Problem Previous Problem Problem List (4 points) Find the annual simple interest rate of a loan, where $800 is borrowed and where $832 is repaid at the end of 6 months Annual simple interest rate = Submit Answers Preview My Answers You have attempted this problem 0 times. You have unlimited attempts remaining.
HW17: Problem 7 Previous Problem Problem List Next Problem (4 points) Find the annual simple interest rate of a loan, where $1000 is borrowed and where $1140 is repaid at the end of 3 months. Annual simple interest rate = %. Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.
HW17: Problem 2 Previous Problem Problem List Next Problem (4 points) Charlie wants to buy a $300 stereo set in 9 weeks. How much should he invest now at 11% annual simple interest to have the money in 9 weeks? Investment = $ Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.
HW17: Problem 6 Previous Problem Problem List Next Problem (4 points) Find the length of the loan in months, if $100 is borrowed with an annual simple interest rate of 6% and with $108 repaid at the end of the loan. Length of the loan = !!! months. Preview My Answers Submit Answers You have attempted this problem 0 times You have unlimited attempts remaining.
HW17: Problem 8 Previous Problem Problem List Next Problem (4 points) Consider a discounted loan of $700, where the proceeds equal $650.41. The loan is repaid at the end of 17 months. Find the annual simple discount rate. Annual simple discount rate = Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.
HW17: Problem 3 Previous Problem Problem List Next Problem (4 points) Find the amount due if $900 is borrowed for 10 months at 16% annual simple interest. Amount = $ Preview My Answers Submit Answers You have attempted this problem 1 time. Your overall recorded score is 0%. You have unlimited attempts remaining.
HW18: Problem 4 Previous Problem Problem List Next Problem (4 points) What annual rate of interest compounded annually is required to double an investment in 8 years? Rate = 9 Preview My Answers Submit Answers You have attempted this problem 1 time. Your overall recorded score is 0%. You have unlimited attempts remaining. Page generated at 11/21/2019 at 06:18pm EST
HW18: Problem 3 Previous Problem Problem List Next Problem (4 points) A mutual fund pays 6% compounded monthly. How much should I invest now so that 6 years from now I will have $3700 in the account? Amount = $ 20910.3 Preview My Answers Submit Answers You have attempted this problem 4 times. Your overall recorded score is 0%. You have unlimited attempts remaining.
MAA Logged in MATHEMATICAL ASSOCIATION OF AMERICA webwork/ma162-su20-golenbiewski / hw17/6 HW17: Problem 6 Previous Problem Problem List Next Problem (1 point) Find the length of the loan in months, if S400 is borrowed with an annual simple interest rate of 14% and with $465.333333333333 repaid at the end of the loan. Length of the loan = months. Preview My Answers Submit Answers You have attempted this problem o times. You have unlimited attempts remaining. Email Instructor Page generated at 07/31/2020...
MATHEMATICAL ASSOCIATION OF AMERICA < webwork / ma123s20 / hw17/2 HW17: Problem 2 Previous Problem Problem List Next Problem (1 point) What is the smallest possible product you can form from two non-negative numbers whose sum is 787 The minimum product is Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.