Calculate (a) the interest payable and (b) the total amount owing on the followingdeposits at simple interest.(i) £300 borrowed for 5 years at 8% p.a.(ii) £1000 invested for 4 years at 95% p.a.(iii) £50 borrowed for 2 years at 18% p.a.(iv) £2500 invested for 6 months at 8.75% p.a. (T = 05 years)%3D(v} £45 000 borrowed for 2 weeks at 15.5% p.a.

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Calculate (a) the interest payable and (b) the total amount owing on the following deposits at simple interest. (i) £300 borrowed for 5 years at 8% p.a.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Calculate (a) the interest payable and (b) the total amount owing on the following
deposits at simple interest.
(i) £300 borrowed for 5 years at 8% p.a.
(ii) £1000 invested for 4 years at 95% p.a.
(iii) £50 borrowed for 2 years at 18% p.a.
(iv) £2500 invested for 6 months at 8.75% p.a. (T = 05 years)
%3D
(v} £45 000 borrowed for 2 weeks at 15.5% p.a.

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