Consider a payment of $600 due in six months from today. Find the equivalent value at two months if the interest rate per annum is 5. $594. $600....

1.Consider a payment of $600 due in six months from today. Find the equivalent value at two months if the interest rate per annum is 5.5%

a. $594.55

b. $600.00

c. $589.20

d. $583.94

2.Find the amount of interest on $635.00 at 6.5% p.a. from October 2, 2015 to August 4, 2016.

Select one:

a. $47.95

b. $34.15

c. $6.67

d. $34.72

3. Tamiko invested $1500.00 at a bank for eight months at an interest rate of 45/8%. Calculate the maturity value of the investment.

a. $1545.80

b. $46.25

c. $1546.25

d. $1545.62

4.For how many days must a principal of $1500 be invested at 5% per annum to earn $46.25 in interest?

a. 225 days

b. 61 days

c. 215 days

d. 52 days

5.Tom has invested $1600 in a 90-day savings certificate paying an annual interest rate of 4½%. Find the interest earned

Select one:

a. $20.00

b. $17.75

c. $18.00

d. $15.78

6.What amount must be invested to accumulate to a value of $11,900 in 180 days if the interest rate is 7%?

Select one:

a. $11,487.58

b. $11,489.20

c. $11,603.48

d. $11,502.92

7.What principal must be invested at an annual interest rate of 3% for 180 days to earn $35.75 interest?

Select one:

a. $2383

b. $1192c. $2248

d. $2416

8.You have invested $2500 in a 30-day savings certificate paying 4.15% per annum. Find the amount of the investment at the end of 30 days.

Select one:

a. $2508.53

b. $2491.50

c. $2551.88

d. $2603.75

9.A person owes $200 due in 3 months and $800 due in 9 months. What single payment 6 months from now will pay off both debts if interest is at 8%?

Select one:

a. $1020

b. $988.31

c. $1012.08

d. $1000

10.On June 1, 2010 Chris borrows $2000 at 12%. He pays $800 on August 17 and $400 on November 20 of 2010 and $500 on February 2, 2011. What is the balance due on April 18, 2011?

Select one:

a. $414.97

b. $300

c. $331.66

d. $203.90