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Exercise 1: Compute the Simple Interest and the Maturity Value. Principal Interest Rate Maturity Value (F) Time Interest per Year 8% 50,000 2 1,000,000 64,400 750,000 5 2 years 18 months 7 months 12.7% 5 1/2% 3 4 10 3/4 % 6 months 800,000 540,000 337,500 8 1,250,000 31/2 years 2 years 10 months 5 months 15% 6. 11.9% 7 8.4% 12½% Note: the interest rate given is per year, so if the term is in months, convert it to year ( 1 year = 12 months) Example: 3 months x 1 year 0.25 year %3D 12months

Exercise 1: Compute the Simple Interest and the Maturity Value. Principal Interest Rate Maturity Value (F) Time Interest per Year 8% 50,000 2 1,000,000 64,400 750,000 5 2 years 18 months 7 months 12.7% 5 1/2% 3 4 10 3/4 % 6 months 800,000 540,000 337,500 8 1,250,000 31/2 years 2 years 10 months 5 months 15% 6. 11.9% 7 8.4% 12½% Note: the interest rate given is per year, so if the term is in months, convert it to year ( 1 year = 12 months) Example: 3 months x 1 year 0.25 year %3D 12months

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Exercise 1: Compute the Simple Interest and the Maturity Value. Principal Maturity Value (F) Interest Rate Time Interest per Year 8% 12.7% 1 50,000 1,000,000 64,400 750,000 5 2 years 18 months 7 months 6 months 31/2 years 2 years 10 months 5 months 3 5 1/2% 4 10 3/4 % 800,000 540,000 337,500 1,250,000 15% 6. 11.9% 7 8.4% 8. 122% Note: the interest rate given is per year, so if the term is in months, convert it to year ( 1 year = 12 months) Example: 3 months x 1 year = 0.25 year 12months
Transcribed Image Text:Exercise 1: Compute the Simple Interest and the Maturity Value. Principal Maturity Value (F) Interest Rate Time Interest per Year 8% 12.7% 1 50,000 1,000,000 64,400 750,000 5 2 years 18 months 7 months 6 months 31/2 years 2 years 10 months 5 months 3 5 1/2% 4 10 3/4 % 800,000 540,000 337,500 1,250,000 15% 6. 11.9% 7 8.4% 8. 122% Note: the interest rate given is per year, so if the term is in months, convert it to year ( 1 year = 12 months) Example: 3 months x 1 year = 0.25 year 12months
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