Question

ASSIGNMENT 2 QUESTIONS b) to $2000.00? 9. Sarah deposited $4500 into a savings account on July 17, 2018 that earned simple interest of 2.25%. How much interest was earned and paid into her account on December 1, 2018? 10. Find the size of the deposit that must be made to earn $65 in 150 days at 2.50%. 11. What rate of interest makes deposit of $2000 earn $22 in 91 days? 12. If 45 is earned at 2.5% on a deposit of $4500, how many days are required? 13. What amount of money will accumulate to $545.00 in 95 days at 4.6%? 14. Debt payments of S1200 in five months and $1600 in ten months are scheduled to be due. If interest at 6.5% is to be allowed, what single payment today is required to settle the two scheduled payments? 15. A loan payment of S4200 was due 80 days ago, and another payment of S1800 is due in 40 days from now. What single payment 70 days from now will pay off the two obligations if interest is to be 8% and the agreed focal date is 70 days from now? 16. When Danny borrowed $2400, he agreed to repay the loan in two equal payments, to be made 90 days and 130 days from the day the money was borrowed. If interest is 8.25% on the loan, what is the size of the equal payments if a focal date of today is used? 17. A 6-month note for $18,200, with interest at 8% is issued on April 1, 2018. Find present value on June 20, 2018 if money is worth 7.2%. 18. What is the price of a 95 days, S150,000 Government of Canada treasury bill that yields 0.53% per annum?

Answer 1

19 Sarah deposited 137 days 365 10000) $4500 in savings account P = $4.500. å intrest rate H = 2.25 % No. of days between July 17,2018 & December 1, 2018 Time = 137 year. Simple intrest Pret = 4500 x (985) * 355 Simple interest - 38.003 Interest - $38) Answer Simple interest - $65 8- 2.5% Simple interest - Pet 65= PX 125 1150 Lion P= 65 X 1000X 365 = P = 6326.6667 25 X 150 Deposit = $6326.67 Answer 150 ģ Time 3659 X 365