# Simple interest | Business & Finance homework help

Using the formula for simple interest and the given values find i
P= \$300, r=5%, t=4 years; I=\$

Use the formula for simple interest, I=prt to find the indicated quantity.
I=\$144, r=8%, t=9 months; P=
P=\$

Use the compound interest formula to find the present value for P, the following given values.
A=\$23,600
i=0.044
n=108
P=\$
Round to nearest cent

An investment company pays 5% compounded semiannually. You want to have \$9000 in the future.
A. How much should you deposit now to have that amount 5 years from now?
\$? Round to nearest cent.

B. How much should you deposit now to have that amount in 10 years from now?
\$? Round to nearest cent

Use the continuous compound interest formula to find the indicated value.
A=\$91,000, P=\$74,803, r=9.8%, t=?
T= ? years Do not round until the final answer then round to two decimal places if needed.

Use the continuous compound interest formula to find the indicated value.
A=\$26,054 P= \$14,500, t= 72 months, r=?
r= ? %
round to three decimal places as needed

If the population of a particular country is growing at 3.8% compounded continuously, how long will it take the population to double?
The population will double in? years if it growing at 3.8% compounded continuously
Round to the nearest year

Find I (the rate per period) and n (the number of periods) for the following annuity.
Monthly deposits of \$310 are made for 3 years into an annuity that pays 7.5% compounded monthly.
i= ? type an integer or decimal rounded to four decimal places as needed

Find i (the rate per period) and n (the number of periods) for the following annuity.
Monthly deposits of \$345 are made for 5 years into an annuity that pays 7% compounded monthly
i= ? type an integer or decimal rounded to four decimal places as needed
n=?

Use the future value formula to find the indicated value
N=30, i=0.03, PMT=\$77, FV=?
FV=\$

Use the future value formula to find the indicated value.
FV=12,000 i=0.02, PMT=\$300, n=
N=? round to the nearest integer as needed.

In order to accumulate enough money for a down payment on a house a couple deposits \$611 per month into an account paying 3% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 5 years.
Type the amount in the account \$?
Round to nearest dollar

Use the formula for the present value of an ordinary annuity or the amortization formula to solve the following problem. PV=\$9000 i=0.02, PMT=\$400 n= ?
Round to the nearest integer

E-Loan an online lending service recently offered 48 month auto loans at 3.6% compounded monthly to applicants with good credit rating. If you have a good credit rating and can afford monthly payments of \$407, how much can you borrow from E-Loan? What is the total interest you will pay for this loan?
You can borrow? Round to two decimals places
You will pay a total of \$ ? in interest round to two decimal places

If you buy a computer directly from the manufacturer for \$2,573 and agree to repay it in 48 equal installments at 1.75% interest per month on the unpaid balance, how much are your monthly payments? How much total interest will be paid.
Your monthly payment is \$ round two decimal places
The total interest paid is \$ round two decimal places

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