Financial Math Answers

A man invested #20,000 in bank A and #25,000 in bank B at the beginning of a year. Bank A pays simple interest at a rate of y% per annum and B pays 1.5y% per annum. If his total interest at the end of the year from the two banks was #4,600 . Find the value of y.

1.An investor Nx in bank M at the rate of 6%simple interest per annum and Ny in bank N at the rate of 8% simple interest per annum. If a total of #8,000,000.00 as interest from two banks after 4 years , calculate the (i) values of X and y; (ii) interest paid by the second bank

Find the future value and the present value of an annuity of 3500 payable at the end of each month for three years of the interest rate is (a) 5% compounded annually, and (b) 5% compounded quarterly.

a sum of money amounts to 2100 in a year and 2205 in two years . find the rate of interest and sum.