Exam 10: Compound Interest - Further Topics

A 11-year $8000.00 promissory note, with interest at 8.4% compounded monthly, is discounted at 6.5% compounded semi-annually yielding proceeds of $14 631.15. How many months before the due date was the date of discount?

If the effective rate of interest on an investment is 7%, what is the nominal rate of interest compounded quarterly?

A loan of $4500.00 was repaid together with interest of $1164.00. If interest was 12 .4% compounded quarterly, for how many months was the loan taken out?

Calculate the effective annual rate for 5% p.a. compounded semi-annually.

At what nominal rate of interest compounded quarterly will $ 13 000,00 earn $8407.27 in interest in six years? (nearest hundredth)

A six-year, $1650.00 note bearing interest at 9.51% compounded annually was discounted at 11.2% compounded semi-annually yielding proceeds of $1916.75. How many months before the due date was the discount date?

At what nominal rate of interest compounded quarterly will $8100 earn $1700.00 interest in six years?

How long did it take for $1635 to increase to $2310 if the investment earned interest at a rate of 8.08% compounded quarterly (give your final answer in years and months, e.g., 3 years and 7.23 months)?

If $1400.00 accumulates to $2350.00 in five years, six months compounded semi-annually, what is the effective rate of interest?

What is the nominal rate of interest at which money will triple itself in eight years and six months if compounded semi-annually?

In how many years will money triple at 6.4% compounded monthly?

Janice owes two debt payments, a payment of $6700 due in twelve months and a payment of $8750 due in twenty-one months. If Janice makes a payment of $7000 now, when should she make a second payment of $7900 if money is worth 11.5% compounded semi-annually?

What nominal rate of interest-compounded quarterly will have to be earned on a savings account for it to grow from $1525 to $1955 over a period of 21 months?

What is the nominal rate of interest compounded semi-annually which is equivalent to an effective rate of 5.89%?

At what nominal rate of interest compounded monthly will $1700.00 earn $500.00 interest in three years?

A five-year, $2000.00 note bearing interest at 10% compounded annually was discounted at 12% compounded semi-annually yielding proceeds of $1900.00. How many months before the due date was the discount date?

At what nominal rate of interest compounded semi-annually will $11 800 earn $6 800 interest in six years?

In how many months will money double at 7.45% compounded semi-annually?

How long, in compounding periods, will it take for $3327 to increase by $3799 if you are able to earn 6.2% compounded semi-annually?

Calculate the nominal annual rate of interest compounded quarterly that is equivalent to 10% p.a. compounded semi-annually.