You are on page 1of 4

Interest Exercise Solution Pagina 1 di 4

([HUFLVHQH[DFWWLPH = the year is based on 365 days / RUGLQDU\WLPH=


the year is based on 360 days

Which months have 30 days?

April, June, September, November

Write (6 +3/4)% as a decimal.

0.0675

([HUFLVHQ

A loan made on July 15 was repaid on October 22. What is the time of the loan?

99 days

Mary Watts borrowed ¼562 on June 24 for sixty days with a 365 day year. What is the date
of repayment or the maturity date?

August 23

Use the simple interest formula to find the rate on an ¼1,800 loan for which the interest was
¼20 for 40 days (use a 360-day year).

10%

([HUFLVHQ

Which is the correct formula for time using the simple interest formula?

t = I x 100 /(C x r)

Find the total amount repaid for a loan for ¼200 at 5% simple interest for 72 days using a
360-day year.

¼202

Find the interest on a loan of ¼3,400 for one year at a simple interest rate of 12% per year.

¼408



Interest Exercise Solution Pagina 2 di 4

([HUFLVHQ

Mr. Green borrowed ¼35,000 to buy stock (scorte di merce), for his shoe shop. He repaid
the simple interest loan after four years. He paid interest of ¼6,750. What was the interest
rate?

4.82%

Find the due date using ordinary time for a loan made on September 15 for 120 days.

January 15

Find the exact interest on a loan of ¼3,500 at 12.5% annual simple interest for 45 days.

¼53.94


([HUFLVHQ

A loan of ¼2,000 with a simple annual interest rate of 14% was made on June 14 and was
due on August 14 of the same year. Find the exact interest using exact time.

¼46.79

Use the exact time to find the due date of a loan that is made on February 10 of a leap year
(anno bisestile) and is due in 60 days.

April 10

A loan made on February 10 is due September 10 of the same year. Find the ordinary time
for the loan if it is not a leap year.

210 days

([HUFLVHQ

The price paid for using money is called LQWHUHVW

3ULQFLSDO is the amount of money borrowed or invested.

5DWH is the percent of the principal paid as interest per time period.

7LPH is the number of days, months, or years that the money is borrowed or invested.

)XWXUH value is the amount of the loan plus the interest.

2UGLQDU\ time is based on counting 30 days in each month.

([HUFLVHQ

¼506.00 - Yes it would, but using a 360 day year it wouldn't be different.
¼20,787.50
¼3.04
Interest Exercise Solution Pagina 3 di 4

([HUFLVHQ

9%
¼4,765.31

([HUFLVHQ

10.50%
exact time 6.80% ; ordinary time 6.89%
¼34,438.29

([HUFLVHQ

Look at the following timelines and complete filling in the blanks:

Write the resolutive formula of the IXWXUHYDOXH at the third year (1st timeline)

Write the resolutive formula of the IXWXUHYDOXH at the fourth months (2nd timeline)

([HUFLVHQ

When money is ERUURZHG, interest is charged for the use of that money for a certain period
of WLPH. When the money is paid back, the principal (amount of money that was borrowed)
and the interest is paid back. The amount to interest depends on the interest UDWH, the
amount of money borrowed (SUHVHQWYDOXH) and the OHQJWK of time that the money is
borrowed.

([HUFLVHQ

6,03/(,17(5(67

3UHVHQW
5DWH 7LPH ,QWHUHVW
9DOXH

¼ 450 5% 4 years ¼

¼ 4% 2 months ¼ 6.00


¼1,200 6% 8 months ¼

¼9,400  155 days (1) ¼ 127.74


¼5,000 6.5% 324 days (2) ¼

¼16.000 5.6% GD\V  ¼ 806.40

(1) calendar year (anno civile) 365 days per year


(2) commercial year (anno commerciale) 360 days per year
Interest Exercise Solution Pagina 4 di 4

([HUFLVHQ

 \HDU  ¼

 .   

   GD\V

   ¼

   PRQWKV

   

([HUFLVHQ

¼ 9,350
¼ 11,029.41

You might also like