# Hi There I Have Spent Hours At This Review And It S Really Starting To Tick Me O

Hi there,

I have spent hours at this review and it’s really starting to tick me off. Nothing drives me more than when I cannot figure something out.

I included what I have done as well except didn’t show my workings and I’m thinking I should have. Going forward, if I return, I will 🙂

(i) This is a long document and I had a complaint from a tutor here. I will not be breaking this up any further.

(ii) However, I will pay an incentive, if it doesn’t go against this websites terms and conditions. I couldn’t find that there nor could I find that we were limited to # of questions per post.

Thanks kindly.

Attempted but unsure, would like to know if I’m right or wrong and if wrong, why?

Billy borrowed \$8,588.00 to buy a car. If interest was charged on the loan at 4.54% p.a., how much interest would Billy have to pay in 20 days? I had \$23.78 , is this correct?

Using the simple interest formula I = Prt, compute the amount of interest earned for \$6,178.00 at 10¼% for 3 2/3 years. I got \$2,321.90 for my answer. Is this correct?

Using the simple interest formula I = Prt, compute the amount of interest earned on \$921.00 at 10.55% p.a. for 127 days. 33.81 ??

Using the simple interest formula I = Prt, state the rate and time required for the formula in decimal format, given that the rate is 3¾% and the time is 3 1/3 years. 0.0375, 3.3333 ??

Joan borrowed \$2,160 and is to repay the balance plus interest of \$60 in 8 months. What was the rate of interest charged? 7.24 ??

Using the simple interest formula, determine the number of days until \$2,302.00 will earn \$48.35 interest at 8 1/3%. 92??

Mac’s credit card statement included \$1,297.00 in cash advances and \$38.66 in interest charges. The interest rate on the statement was 11 1/3% p.a. For how many days was

Mac charged interest? 56??

Suzette invested \$2,898.00 in a 144-day term deposit at 5.04% p.a. Using the future value formula, S = P(1 + rt), determine how much the investment will be worth at maturity. \$2,948.44??

Use the future value formula, S= P( 1 + rt) , to compute the future value of \$2,510.00 over one month at 7 ½ % p.a. \$2,524.88 ??

What principal amount will have a future value of \$6,300.00 at 7.5% in eight months? 5800 ??

The lawyer for a credit union member has sent a cheque for \$2,229.48 in full settlement of the member’s loan balance including interest at 6 ¾ % for 7 months. How much of the payment is interest? 86.78

Two scheduled debt payments of \$702 each are due four months and eight months from now respectively. If interest at 6% is allowed, what single payment today is required to settle the two scheduled payments? 1363.24

Now for the ones that I could not formulate any answer for, no matter how hard I tried:

Joe borrowed \$13,183.00 to buy a car. If interest was charged on the loan at 5.11% p.a., how much interest would Joe have to pay in 20 days?

Yasmine borrowed \$11,647.00 from her parents to finance a vacation. If interest was charged on the loan at 4.85% p.a., how much interest would she have to pay in 150 days?

What principal amount will earn \$41.51 interest from March 28, 2016 to April 27, 2016, at 10%?

Philip wants to supplement his pension by \$475 per month with income from his investments. His investments pay him monthly and earn 9 ½ % p.a. What value of investments must Philip have in his portfolio to generate enough interest to give him his desired income?

Bunny’s Antiques received \$90.00 interest on a 185-day term deposit of \$3,240. At what rate of interest was the term deposit invested?

Krista borrowed \$12,468. The loan is to be repaid by three equal payments due in 94, 194, and 265 days from now respectively. Determine the size of the equal payments at an interest rate of 9% with a focal date of today.

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