Focused123
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- Joined
- May 6, 2016
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1. How much must be placed in a five-month term deposit earning 4.3% simple interest in order to earn $520 interest? (Round your answer to the nearest cent.) 2. Indira paid interest charges of $184.47 on a $4,730 invoice that was two months overdue. What monthly rate of simple interest was she charged? (Round your answer to 2 decimal places.) 3. Morgan loaned $3200 to Rolf at a simple interest rate of 0.75% per month. What was the term of the loan if the total interest came to $192.00? 4. Raimo borrowed $900 from Chris on October 15 and agreed to repay the debt with simple interest at the rate of 3.4% on May 25. How much interest was owed on May 25? Assume that February has 28 days. (Round your answer to the nearest cent.)
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