How long will it take for $7000 to double at the rate of 8%?
A. 15.5 years
B. 21.5 years
C. 9.5 years
D. 12.5 years.
An initial investment of $480 earns interest for 7 years in an account that earns 13% interest, compounded quarterly. Find the amount of money in the account at the end of the 7 year period.
A. $1138.34
B. $1129.25
C. $1175.34
D. $695.340
Find the amount that must be invested at an effective rate of interest of 4% in order to accumulate ₱2000 at the end of three years.
A. ₱1,778.00
B. ₱1785.71
C. ₱ 2240.00
D. ₱2249.73
Suppose Kay inherits $250,000, which she invests today at a rate of return of 9 percent compounded annually. How much will Kay's investment be worth in 25 years?
A. $6,250,000.00
B. $1,929,687.00
C. $2,155,770.17
D. $21,175,224.06
What amount should be paid on the maturity date to settle a one-hundred-twenty day loan dated March 19, 2013, if the present value is ₱15,600 at 13 2/7 % simple interest?
A. ₱690.86
B. ₱16,290.86
C. ₱16,281.39
D. ₱681.39
Pooh borrowed ₱10,620.00 from Dorah on October 30, 2015. He promised to repay it after four months, together with the interest at 8% simple interest rate. However, he was unable to repay the debt and its interest on time. When he settled his debt on April 16, 2016 he was required to pay an additional of 10% on the unpaid amount from the time after the due date until April 16. How much did he pay?
A. ₱10,974.00
B. ₱10,903.00
C. ₱11,118.55
D. ₱11,045.55
Accumulate ₱ 2,000.00 for 3 years at 7% simple interest.
A. ₱ 420.00
B. ₱ 6,420.00
C. ₱ 2,420.00
D. ₱ 10,200.00