6. Find the simple interest Principle = $1150 Rate = 2.5% Time in Months = 3 Int

Question

6. Find the simple interest

Principle = $1150

Rate = 2.5%

Time in Months = 3

Interest = Blank

The interest is $....

7. When Tine opened her law office, she bought $13,000 worth of law books and $7,100 worth of furniture. She paid $1,200 down and agreed to amortize the balance with semiannual payments for 6 years at 11% compounded semiannually. Find the amount of each payment.

What is the amount of each payment? $...

8. An investment company pays 3% compounded semiannually. You want to have $22,000 in the future.

How much should you deposit now to have that amount 5 years from now? $...

Explanation / Answer

6. Find the simple interest Principle = $1150 Rate = 2.5% Time in Months = 3 Int

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