Exercise 1
How long does it take a principal of
dollars at a simple interest rate of
to become
dollars?
Exercise 2
dollars is deposited into a savings account. After one year,
months, and
days it totals
dollars. Calculate the simple interest rate for this account.
Exercise 3
Determine the simple interest rate applied to a principal over
years if the total interest paid equals the borrowed principal.
Exercise 4
How long does it take a principal payment to triple at a simple interest rate of
?
Exercise 5
Find the total amount of simple interest that is paid over a period of five years on a principal of
dollars at a simple interest rate of
.
Exercise 6
Calculate the total worth of an investment after six months with a principal of
dollars at a simple interest rate of
.
Solution of exercise 1
How long does it take a principal of dollars at a simple interest rate of to become dollars?
years
Solution of exercise 2
dollars is deposited into a savings account. After one year,
months, and
days it totals
dollars. Calculate the simple interest rate for this account.
days
dollars
Solution of exercise 3
Determine the simple interest rate applied to a principal over
years if the total interest paid equals the borrowed principal.
Solution of exercise 4
How long does it take a principal payment to triple at a simple interest rate of
? Let's say principal =
Three times of
Interest =
Interest =
Interest =
years
Solution of exercise 5
Find the total amount of simple interest that is paid over a period of five years on a principal of dollars at a simple interest rate of .
dollars
Solution of exercise 6
Calculate the total worth of an investment after six months with a principal of dollars at a simple interest rate of .
dollars
dollars
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