Exam 21: Interest and Depreciation

What is the sum of the first 6 terms of an arithmetic progression when a = 3 and d = 4?

A transport company in the Philippines borrows 60,000 Philippine Pesos (PHP) at an interest rate of 6% per year. After 3 years, assuming they have paid nothing back, what it the value of Accrued Amount (to the nearest PHP)?

A Turkish company has a computer with a depreciated value (D) of 1,200 Turkish Lira (TRY) after 4 years depreciation at 9%. What was its original book value (B) (to nearest TRY)?

A Kenyan company takes a loan of 100,000 Kenyan Shillings (KES) - what term is used to refer to this amount?

What is the 5th term of a geometric progression when a = 2 and r = 3?

A clothing company in Pakistan purchases a new machine worth 1.5 million Pakistani Rupees (PKR). In 5 years it will be worth PKR 300,000. Assuming a straight line depreciation, by how much should its value be depreciated each year?

What is the Annual Percentage Rate (APR) of a loan with Nominal Rate of 8% and a Compounding Period of 3 months (n = 4) (1 decimal place)?

What is the 7th term of an arithmetic progression when a = 5 and d = 3?

A law firm in Oman purchases a new car for partners' use. Its original value is 19,000 Omani Rial (OMR) and it will depreciate by 15% per year. How much will it be worth after 3 years (to the nearest OMR)?

What is the sum of the first 8 terms of a geometric progression when a = 4 and r = 2?