Chapters

## Exercise 1

How long does it take a principal of 30,000?

## Exercise 2

52,500. Calculate the simple interest rate for this account.

## Exercise 3

Determine the simple interest rate applied to a principal over 20 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 interst rate of 6%?

## Exercise 5

Find the total amount of simple interest that is paid over a perod of five years on a principal of 10,000 at a simple interest rate of 3.5%.

## Solution of exercise 1

How long does it take a principal of 30,000?

## Solution of exercise 2

52,500. Calculate the simple interest rate for this account.

360 + 120 + 20 = 500 days

I = 52 500 − 45 000 = 30,000 at a simple interest rate of 6%.

## Solution of exercise 6

Calculate the total worth of an investment after six months with a principal of $10,000 at a simple interest rate of 3.5%.

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