11. Determine the principal that will earn $294 in5 years at 6% per annum simple interest.12. Determine the principal that will carn $200 assimple interest after 8 years at 5% per annum.13. Mr Frank's bankpays interest at 8e perannum on money he has on deposit. Whatamount is in his account if the simple interestfor 7 months is $42?14. Calculate the amount of money invested at 11%per annum, when $330 simple interest wascollected after

“Since you have asked multiple questions, we will solve the first question for you. If you want any…

11. Determine the principal that will earn $294 in 5 years at 6% per annum simple interest. 12. Determine the principal that will carn $200 as simple interest after 8 years at 5% per annum. 13. Mr. Frank's bank pays interest at 8 per annum on money he has on deposit. What amount is in his account if the simple interest for 7 months is $42? 14. Calculate the amount of money invested at 11% per annum, when $330 simple interest was

11. Determine the principal that will earn $294 in 5 years at 6% per annum simple interest. 12. Determine the principal that will carn $200 as simple interest after 8 years at 5% per annum. 13. Mr. Frank's bank pays interest at 8 per annum on money he has on deposit. What amount is in his account if the simple interest for 7 months is $42? 14. Calculate the amount of money invested at 11% per annum, when $330 simple interest was

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Concept explainers

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.

Question

11. Determine the principal that will earn $294 in
5 years at 6% per annum simple interest.
12. Determine the principal that will carn $200 as
simple interest after 8 years at 5% per annum.
13. Mr Frank's bank
pays interest at 8e per
annum on money he has on deposit. What
amount is in his account if the simple interest
for 7 months is $42?
14. Calculate the amount of money invested at 11%
per annum, when $330 simple interest was
collected after

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