DOWNLOAD THE Test Bank for Mathematics Of Finance 9th Edition Brown
b b b b b b b b b b
Mathematics Of Finance 9ce Edition by Brown Ch02
b b b b b b b
Correct answers are located in the second half of this document.
b b b b b b b b b b
MULTIPLEbCHOICEb-
bChoosebthebonebalternativebthatbbestbcompletesbthebstatementborbanswersbthebquestion.
1) Youbinvestb$800bonbMayb25,b2021.bOnbwhatbdaybwillbyoubhavebearnedbexactlyb$31.96bofbi
nterestbifbyourbinvestmentbearnsbsimplebinterestbatbrb=b6%?
A) Augustb31,b2021
B) Januaryb20,b2022
C) Januaryb23,b2022
D) Januaryb25,b2022
QuestionbDetails
Accessibilityb:bKeyboardbNavigationbTo
picb:b01-02bValuebofbt
Difficultyb:bEasy
2) Youbinvestb$50,000btoday.bItbearnsbsimplebinterestbatb15%bforbthebfirstb5bmonths,b10%bforbt
hebnextb3bmonthsbandb12%bforbtheblastb2bmonths.bWhatbisbthebaccumulatedbvaluebatbthebendbofb10bm
onths?
A) $56,450
B) $56,250
C) $55,542
D) $55,375
QuestionbDetails
Accessibilityb:bKeyboardbNavigation
Topicb:b01-
01bAccumulatedbValuebatbSimplebInterestbDifficultyb:
bMedium
3) Youbbuybabstovebforb$1500bonbFebruaryb20.bThebstorebgivesbyoub4bmonthsb"interestbfree",ba
fterbwhichbyoubmustbpaybtheb$1500.bHowever,bthebstorebchargesbanbadministrationbfeebofb$50,btobbe
bpaidbtoday.bWhatbratebofbsimplebinterest, br,barebyoubbeingbchargedbforbthisb"interestbfree"bplan?
Versionb1 1
mynursytest.store
,DOWNLOAD THE Test Bank for Mathematics Of Finance 9th Edition Brown
b b b b b b b b b b
Mathematics Of Finance 9ce Edition by Brown Ch02
b b b b b b b
A) 10.49%
B) 10.34%
C) 10.14%
D) 10.00%
QuestionbDetails
Accessibilityb:bKeyboardbNavigationbTo
picb:b01-
10bPartialbPaymentsbDifficultyb:bHard
4) Youbbuybsomebfurniturebforb$600.bThebdepartmentbstoreboffersbyoub"nobinterestbforb8bmont
hs"bafterbwhichbyoubcanbpaybtheb$600binboneblumpbsum.bTobtakebadvantagebofbthisbdeal,bthebstorebch
argesbab$25bservicebfee,bwhichbisbtobbebpaidtoday.bWhatbratebofbsimplebinterestbisbthebstorebchargingb
youbforbthisb"nobinterest"bloan?
A) 6.25%
B) 5.80%
C) 6.05%
D) 6.52%
QuestionbDetails
Accessibilityb:bKeyboardbNavigationbTo
picb:b01-
10bPartialbPaymentsbDifficultyb:bHard
5) Youbinvestb$2300bonbJuneb10.bOnbNovemberb10,byoubhavebearnedb$72.42bofbinterest.b
Whatbratebofbsimplebinterestbdidbyoubearn?
A) 7.41%
B) 7.51%
C) 7.56%
D) 7.66%
Versionb1 2
mynursytest.store
,DOWNLOAD THE Test Bank for Mathematics Of Finance 9th Edition Brown
b b b b b b b b b b
Mathematics Of Finance 9ce Edition by Brown Ch02
b b b b b b b
QuestionbDetails
Accessibilityb:bKeyboardbNavigationbDif
ficultyb:bMedium
Topicb:b01-10bPartialbPayments
6) Youbinvestb$20,000binbabfundbthatbearnsbsimplebinterestbatbrb=b7%bforb2byears,bfollowedbbybsi
mplebinterestbatbrb=b5%bforb3byears.bHowbmuchbwillbyoubhavebatbthebendbofb5byears?
A) $25,800.00
B) $26,220.00
C) $26,507.30
D) $26,050.50
QuestionbDetails
Accessibilityb:bKeyboardbNavigation
Topicb:b01-
01bAccumulatedbValuebatbSimplebInterestbDifficultyb:
bMedium
7) Youbtakeboutbabloanbofb$bAbatbabsimplebinterestbratebofbrbforbn-
daysb(bnb>b0).bUnderbexactbinterest,byoubhavebtobpaybbackb$8230batbthebendbofbn-
days.bIfbordinarybinterestbisbusedbinstead,bwhatbwouldbbebthebamountbtobbebpaidbbackbatbthebendbo
fbn-days?
A) $8,230
B) Morebthanb$8230
C) Lessbthanb$8230
D) Needbmorebinformationbtobdetermine
QuestionbDetails
Accessibilityb:bKeyboardbNavigation
Topicb:b01-
01bAccumulatedbValuebatbSimplebInterestbDifficultyb:
bMedium
8) Supposebyoubdepositb$10,000bonbMarchb21binbabfundbearningbsimplebinterestbatbrb=b4%.b
Versionb1 3
mynursytest.store
, DOWNLOAD THE Test Bank for Mathematics Of Finance 9th Edition Brown
b b b b b b b b b b
Mathematics Of Finance 9ce Edition by Brown Ch02
b b b b b b b
Howbmuchbwillbyoubhavebexactlyb6bmonthsblater?
Versionb1 4
mynursytest.store
b b b b b b b b b b
Mathematics Of Finance 9ce Edition by Brown Ch02
b b b b b b b
Correct answers are located in the second half of this document.
b b b b b b b b b b
MULTIPLEbCHOICEb-
bChoosebthebonebalternativebthatbbestbcompletesbthebstatementborbanswersbthebquestion.
1) Youbinvestb$800bonbMayb25,b2021.bOnbwhatbdaybwillbyoubhavebearnedbexactlyb$31.96bofbi
nterestbifbyourbinvestmentbearnsbsimplebinterestbatbrb=b6%?
A) Augustb31,b2021
B) Januaryb20,b2022
C) Januaryb23,b2022
D) Januaryb25,b2022
QuestionbDetails
Accessibilityb:bKeyboardbNavigationbTo
picb:b01-02bValuebofbt
Difficultyb:bEasy
2) Youbinvestb$50,000btoday.bItbearnsbsimplebinterestbatb15%bforbthebfirstb5bmonths,b10%bforbt
hebnextb3bmonthsbandb12%bforbtheblastb2bmonths.bWhatbisbthebaccumulatedbvaluebatbthebendbofb10bm
onths?
A) $56,450
B) $56,250
C) $55,542
D) $55,375
QuestionbDetails
Accessibilityb:bKeyboardbNavigation
Topicb:b01-
01bAccumulatedbValuebatbSimplebInterestbDifficultyb:
bMedium
3) Youbbuybabstovebforb$1500bonbFebruaryb20.bThebstorebgivesbyoub4bmonthsb"interestbfree",ba
fterbwhichbyoubmustbpaybtheb$1500.bHowever,bthebstorebchargesbanbadministrationbfeebofb$50,btobbe
bpaidbtoday.bWhatbratebofbsimplebinterest, br,barebyoubbeingbchargedbforbthisb"interestbfree"bplan?
Versionb1 1
mynursytest.store
,DOWNLOAD THE Test Bank for Mathematics Of Finance 9th Edition Brown
b b b b b b b b b b
Mathematics Of Finance 9ce Edition by Brown Ch02
b b b b b b b
A) 10.49%
B) 10.34%
C) 10.14%
D) 10.00%
QuestionbDetails
Accessibilityb:bKeyboardbNavigationbTo
picb:b01-
10bPartialbPaymentsbDifficultyb:bHard
4) Youbbuybsomebfurniturebforb$600.bThebdepartmentbstoreboffersbyoub"nobinterestbforb8bmont
hs"bafterbwhichbyoubcanbpaybtheb$600binboneblumpbsum.bTobtakebadvantagebofbthisbdeal,bthebstorebch
argesbab$25bservicebfee,bwhichbisbtobbebpaidtoday.bWhatbratebofbsimplebinterestbisbthebstorebchargingb
youbforbthisb"nobinterest"bloan?
A) 6.25%
B) 5.80%
C) 6.05%
D) 6.52%
QuestionbDetails
Accessibilityb:bKeyboardbNavigationbTo
picb:b01-
10bPartialbPaymentsbDifficultyb:bHard
5) Youbinvestb$2300bonbJuneb10.bOnbNovemberb10,byoubhavebearnedb$72.42bofbinterest.b
Whatbratebofbsimplebinterestbdidbyoubearn?
A) 7.41%
B) 7.51%
C) 7.56%
D) 7.66%
Versionb1 2
mynursytest.store
,DOWNLOAD THE Test Bank for Mathematics Of Finance 9th Edition Brown
b b b b b b b b b b
Mathematics Of Finance 9ce Edition by Brown Ch02
b b b b b b b
QuestionbDetails
Accessibilityb:bKeyboardbNavigationbDif
ficultyb:bMedium
Topicb:b01-10bPartialbPayments
6) Youbinvestb$20,000binbabfundbthatbearnsbsimplebinterestbatbrb=b7%bforb2byears,bfollowedbbybsi
mplebinterestbatbrb=b5%bforb3byears.bHowbmuchbwillbyoubhavebatbthebendbofb5byears?
A) $25,800.00
B) $26,220.00
C) $26,507.30
D) $26,050.50
QuestionbDetails
Accessibilityb:bKeyboardbNavigation
Topicb:b01-
01bAccumulatedbValuebatbSimplebInterestbDifficultyb:
bMedium
7) Youbtakeboutbabloanbofb$bAbatbabsimplebinterestbratebofbrbforbn-
daysb(bnb>b0).bUnderbexactbinterest,byoubhavebtobpaybbackb$8230batbthebendbofbn-
days.bIfbordinarybinterestbisbusedbinstead,bwhatbwouldbbebthebamountbtobbebpaidbbackbatbthebendbo
fbn-days?
A) $8,230
B) Morebthanb$8230
C) Lessbthanb$8230
D) Needbmorebinformationbtobdetermine
QuestionbDetails
Accessibilityb:bKeyboardbNavigation
Topicb:b01-
01bAccumulatedbValuebatbSimplebInterestbDifficultyb:
bMedium
8) Supposebyoubdepositb$10,000bonbMarchb21binbabfundbearningbsimplebinterestbatbrb=b4%.b
Versionb1 3
mynursytest.store
, DOWNLOAD THE Test Bank for Mathematics Of Finance 9th Edition Brown
b b b b b b b b b b
Mathematics Of Finance 9ce Edition by Brown Ch02
b b b b b b b
Howbmuchbwillbyoubhavebexactlyb6bmonthsblater?
Versionb1 4
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