Financial Math Answers

find the rate of interest compounded bimonthly of investment amounting to P18,000 which accumulates to P20,000 in 5 years

The print rate of shirt is Rs 350. There is discount of 20% on the print rate! What will this shirt cost to the customer?

A person gets an income of 28270 per year. He pays an income tax of 15% and also pays a penalty of 20% of the amount of income Tax Paid. How much amount is the person left with?

An amount of R4 317,26 was borrowed on 5 May at a simple interest rate of 15% per year. The loan will be worth R4 500 on ...

A.

16 August.

B.

12 August.

C.

21 August.

D.

9 Octobe

Deliwe inherits R600 000. She decides to have it paid to her in two payments: one payment four years from now and the second payment twice the size of the first payment, eight years from now. If money is worth 12,6% per year compounded quarterly, then the amount of money that Deliwe expects to receive eight years from now is .

A businessman buys R100 000 of equipment on the following terms:

Interest will be charged at a rate of 12% per year compounded semi-annually, but no payment will be made until two years after purchase. Thereafter equal semi-annual payments will be made for five years. The semi-annual payment is....

A. R22 343,83

B. R17 153,02

C. R29 970,75

D. R13 586,80

Mr. Akrong gave his two children Nii and Naa a total of GH¢ 900.00 as a

present. Nii immediately paid Naa GH¢ 75.00 to repay a loan. They then

found that Naa had twice as much as Nii. How much did each of them

receive from their father?

Patri borrows money from Zanele at a simple discount rate of 9.75% per annum. He must pay him R35 000 in 27 months' time. The amount of money that he receives from Zanele now is

CREDIT CARDS

1) How much interest is due on an unpaid credit card balance of $1047.28 at a rate of 21.25% for 27 days?

2) How much interest is due on an unpaid credit card balance of $2111.67 at a rate of 18.5% for 5 months?

3) Adam has an unpaid credit card balance of $765.43 that charges an interest rate of 19.75%. If his payment was due on September 23, how much interest will he owe on October 14? Hint: September has 30 days.

4) Debbie has an unpaid credit card balance of $568.93. Her credit card company charges 24% per year, counting each day that an amount is owed. If she did not pay anything on July 10, her due date, how much does she owe on her next statement date, August 2? July has 31 days.

5) Stuart has an unpaid credit card balance of $268.67. What is his minimum payment if his credit card company charges an interest rate of 18.25%, and Stuart must pay 3% or $25, whichever is greater?