Answer to Question #131160 in Financial Math for rk

Question

1.The simple interest on a loan of $16 000 at 9% p.a. over 4 years is?
2. Successive discounts of 15% and 7% are equivalent to a single discount of?
3. Farming equipment that is valued at $150 000 depreciates at a rate of 10% p.a. The number of years that it will take for the value of the equipment to fall below $50 000 will be?
4. A laptop has a marked price of $980. The store offers a discount of 5% to account customers and a further 5% discount for accounts that are settled within 7 days. Calculate the price paid for the laptop by an account customer who settles her account within 7 days.
5. The price of a new car is $22 500. The value of the car depreciates by 20% p.a. The value of the car after 4 years is?
6. Terry invests $34 000 at 11% p.a. for 3 years with interest compounded quarterly. The value of the investment on maturity is (correct to the nearest dollar)?
7. A sum of money is to be invested for a 6-year period. Which of the following investments will give the greatest return?

Answer 1

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