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Simple Interest procedure

SIMPLE INTEREST II 1) Calculate the present value of a debt that will expire on July 30 and whose total amount will be $ 3,500 at an annual interest rate of 9.75%. Suppose today is March 2. Answer: $3,363.38 2) Maria paid today $ 12550 for a debt contracted 118 days ago. If the total interest paid was $ 550. What is the commercial interest rate charged? Answer: 13.98% 3) Mr. Martinez signs a promissory note in the amount of $ 5000 on October 10. The stipulated interest rate is 12% per annual and the expiration date is December 12 of the same year. Calculate the amount of commercial interest that Mr. Martinez must pay. Answer: $105.00 4) Julia signed a promissory note for $ 3550 on November 8 that already includes the interest charged. a) Calculate the amount that Julia borrowed if the due date is January 8 of the following year and the annual interest rate is 35%. Answer: $3351.25 5) How much should I invest at 9.7% simple annual interest on February 17, if I wish to make the following withdrawals? $ 772,000 on March 11, $ 321 981 on July 15 and $ 1 324 765 on December 18 using exact time? Answer: $2,288,749.45 6) A company buys machinery for an amount of $ 500,000 that pays in three equal installments of 45, 90 and 135 days respectively. If the interest rate is 12% commercial simple annual. How much is the amount of the payments? Answer: $171,642.00

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